You have substantial degenerative changes to the C5-7 levels with foraminal stenosis (see cervical radiculopathy on the website). More likely than not, your arm pain is caused by this condition.
If there is not profound motor weakness present, you can start treatment conservatively including physical therapy, injections and medications. Traction might be useful for temporary relief. I do have patients with your findings that go for a long time before surgery is contemplated. Based upon this imaging report however, you will probably at some time in the future need to consider surgical intervention.