WOW Would you look at all these replies.
I'm really sorry guys I really forgot all about this topic.
So I decided to head towards the Maldives in Feb and go to sharm at a warmer time probably July.
And for those who asked about the saudi side of the red sea I highly recommend it for you. There are some cities that offer some good diving and I will give a breif idea about each one:
Jeddah: One of the biggest cities in Saudi, good for shopping. Lots of dive operators offering day boats or charter liveaboards. Some good resorts with access to shore dive sites however, the corals near the shore are mostly destroyed due to spear fishing.
Faarasan Island: Its an island waaay down south near Jizan. I hear that there is only one resort, a relatively new one which offers some good diving. Lot of sharks, soft corals and lots of current too but nothing for non-divers.
Also there are two more cities called Yanbu and Umm lajj but they still need some development to offer accomodations for divers.
So it is usually hot so fall/winter is the best time to visit, and dont forget that alcohol is banned from saudi, and descent clothing is required.

By the way, I live in Ad Dammam and never had the chance to dive in the red sea and all of that info was based on what I've heard from my Jeddawi friends.
Hope this info is helpful Arnon_Ayal and yzer4 and if you want further info I may ask around and post a new thread. 
Happy Eid
Saad