Yea, sounds like a 1W with the forward voltage and current. A 5W should be in the 6v+ range and be running in the neighborhood of 700mA.
If it's a 1W you could DD it with 4.5v. If it's a 5W you could DD it with 9v, unless it's a really low Vf, then you might want to add .5 to 1 ohm of reisistance.