Yes and No.

As Ray defines the Singularity (An Ongoing Process of exponential change that is a continuum resulting in a state-change in the mode of Human existence and the change in definition of what we call Human, just as a start), it is not a religion.

As many others who are recognized as authorities on the Singularity it is not a religion (but many of them will include things that are unconsciously religious).

But to most of those who call themselves "Singulatarians," whether they like it or not, it is a Religion (whether they know it or not).

They use it as a Proxy for Theistic Religion with its promises of Eternal Life and of a Future Rapture, which will arrive at a set point in the future for which there will be growing signs (prophecies) of this coming "Singularity." And after this Rapture they will live in a Magical Utopian Paradise where every whim may be fulfilled.

I find this hard to believe.

I would claim that the Singularity is upon us in the same way that the Industrial Revolution was upon the world when it the 1780's Honoré Blanc succeeded in creating a system of interchangeable parts for mass production of Muskets (often mis-attributed to Eli Whitney). Only, unlike the Industrial Revolution, which took nearly the next 200 years to complete (and it could be argued that the Industrial Revolution is still in progress in the world, just as the Enlightenment Tradition has not yet reached all of the world), the Singularity will see itself play out over the next few decades, with the latter parts of it playing out over a few months or years (and, in the process, those parts of the world which have yet to benefit from the Industrial Revolution or Enlightenment will see themselves moved through those eras and into that of the Singularity in what seems to be the blink of an eye. This will be the most dangerous part of the Singularity).

Already we see systems of Constructed Intelligence that are smarter than humans (Deep Blue, Watson, etc.), and we see Humanity becoming more and more augmented by our technology.

Eventually, as the Singularity becomes more and more widely known, more and more people will adopt it is a proxy for Theistic Religion.

But this might actually turn out to be a Good thing.

It is better to believe in a Religion that actually has some hope of delivering on its promises while you still yet live.