You could get pretty close to that. Domain registration is usually around $10/year. Sometimes you will see specials with a discounted or even free if you signup for hosting.
Web hosting for around $5/month is not too hard to find. You can find $1/mo hosting, but I would not suggest this. Everyone likes getting stuff for cheap, but remember, hosting companies have to make money too. If they are only charging you $1 mo, that will hardly pay for the server space you are using. Now ask yourself, if they are not making any real profit, can they afford to provide quality services and support? :blink: