Well, I think there are two main issues. You need to decide whether you want to wait until marriage. If you do, then tell the girl, and I guess she'll break up with you. I can't tell you if you're right or wrong, that's for you to decide.
If you decide you want to do it with her, you'll need to prepare yourself for whatever guilt or other issues you might have. It sounds to me like you've built sex up into a really stressful thing for you. Whatever you decide, you need to relax. :-)
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