There is no direct ferry as far as we know, but there are a few possibilities for more round-about routes.
From Egypt, you can take a ferry from Nuweiba to Jordan, which will allow you to bypass Israel.
From Jordan, if you can get a Saudi transit visa (and some individuals have gotten them), you can take a ferry from Jeddah to Port Sudan.
There is also (per Lonely Planet) a weekly ferry from Jeddah to Massawa (Mitsiwa) Eritrea.
And, I think there is still a ferry from Aswan, Egypt to Wadi Haifa, Sudan and thence by land to Eritrea, although periodically the border between Sudan and Eritrea closes.
Good luck and let us know how you make out.
"It matters not what goal you seek
Its secret here reposes:
You've got to dig from week to week
To get Results or Roses."
'One world, two wheels'