It’s nice that you want to spare your boyfriend’s feelings, but don’t worry too much about it. Most guys don’t get embarrassed by that type of thing --- as long as you’re straightforward and honest. 

Let him know you’re not out to embarrass or hurt him. And if he does get a little embarrassed or mad, he’ll have to deal with it because, honestly, how you feel is more important. 

As far as your relationship goes, realize this is an important issue. If you two are together because you’re totally into each other, then letting him know how you feel should only bring you closer. (If it doesn’t, then you have to wonder how good the relationship was to begin with.)

Whatever you do, never sacrifice yourself or your virginity for the sake of a relationship.

So how to tell him? Find a good time to talk. Keep touching to a minimum, so you won’t get distracted. Know what you want to say before you sit down to talk. Start with telling him how you feel about him and how you want to stay in a relationship with him.

Then tell him why you want to wait to have sex. This can be simple. “I just don’t feel ready.” You should also know your sexual boundaries. (Is kissing OK, but other touching isn’t? How far are you willing to go?) Tell him.

Be honest and determined. That should earn his respect. If not, then maybe it’s time to find a new boyfriend.