There are many ways, you can compile by yourself, but not good in production env.
Here is option from iuscommunity.org
We are committed to providing up-to-date and regularly maintained RPM packages for the latest upstream versions of PHP, Python, MySQL and other common software specifically for Red Hat Enterprise Linux and clones.
Ref: http://iuscommunity.org/Docs/ClientUsageGuide
Try at your own risk. 