First of all, I think you probably do not love him. You like the feeling of in love, and being online or phone makes you enjoy that feeling, and the "guy" you are imagining in the other side is better than the real guy. So, if it's true, you'd better find someone else. Lots people say "looking is not important". Well, I'll have to say, it's at least not "unimportant". Of course everyone perfer better things, and looking is one of them.
About that "hurt" thing. Doesn't matter how you do it, faster is better than slower. You and him all have to move on. The earlier it happens, the better to both of you. BTW, since you two are not really "together" together, I don't think this will hurt that much.
Hope that helps and good luck.