Can I upgrade from an iPhone 3 to a 5?

I have an I phone 3 with Verizon, I was just wondering if I could upgrade directly to a 5 or do I have to go to a 4 then wait 2 years AND THEN get the 5. Do I have to upgrade phone by phone?

No, you can upgrade to the iPhone 5 directly, it will just cost more than if you got a 4 or 4S

Can you upgrade a cat to a Lion?