We did that!
My son taught himself to read by age three, and by 3 and a half was "done" having discovered/then in the process of discovering, 10,000 ways in which to to move his body.
We decided to let him move his body. :) Probably best decision ever.
We still read to him, using books that positively screamed for the use of crazy voices...and memorized lots of poems (shel silverstein, Eugene Field's Wynken Blynken & Nod, The Gingham Dog & the Calico Cat, The Sugar Plum Tree, etc.), but we didn't make a big deal out of it. He really LOVED memorizing poems...I think because he got to "move" in a new way. So too, the best advice I have ever been given about reading to kids is to read things to them that YOU like. Our tone, posture, & willingness, all so subtle are soaked up like a sponge by our kids. All that said, we let him move his body....the more we let him...the more he started to want some "down" time. That's when we'd read silly poems & etc. If he didn't want to though we didn't push it. "Okay! We can come back to it later if you want!"
A year later and he was interested in math, got the hang of it and dropped it like a rock. 6 months after that he got super interested in the Magic Treehouse Series and is still in in it. We'll see what happens next.
The only consistent thing I've gotten from my son is that he's out to discover the world. He gets basic proficiency in something and moves on to something new. He ALWAYS goes back to that first thing though...if I'm patient, and it's available, and if I'm not pushing it. (I think he gets suspicious that he's about to discover something I don't want him to know if I try and redirect him from what he loves at the moment to something he's shelved for the time being.) What got him back into reading, was loving stories. He always has, he just wanted to do a few other things first. And really, who can blame them? If MY body we capable of hurtling through the air and then bouncing like rubber I would probably put the book down and jump off the couch too! (My knees hurt and I'd hit the ceiling.)
If you haven't shown him, one great website is www.starfall.com
It's a HUGELY interactive learning how to read site and was the only thing my super active little lightening bolt would sit still for, for a period of several months. It's designed PERFECTLY for toddlers, although it's marketed for Kindergarteners. I can't take credit for that though...I came home to find him sitting on my husbands lap clicking and moving the mouse. He was gentle with the computer right from the beginning...but didn't want to sit on anyones lap after about a week...he wanted to sit by himself. I think he could probably feel that we wanted to move on from the 200th repetition "A-astronaught baum baum baum bum baum baum dip do dooby dip do dooby <---aka my attempt to write down the music" to something else.
So that's been my experience with active little boys and reading. We all become experts in our own kids reeeal fast, but others' are mostly mysteries...but that's been our experience, and it seems to be pretty common. Interested. NOT. Interested. NOT. Interested.
Have Fun! (And possibly look into a drama or gymnastics class)
~Z.