Hello!

First thing , you can not plug the motor directly into the receiver. The motor needs to be connected to a brushed electronic speed control (esc) and the esc is then plugged into the receivers throttle port (#3).
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As far as the battery ,if the motor can only accept 3.7 volts you will have a problem (as jester pointed out below) in that receiver needs at least 4.8volts to operate.
The ultra-micro receiver/esc boards(bricks) would be a better choice for that motor but for a few dollars more you can buy a complete micro plane ready to fly.
Either that or go with a larger motor, 5amp esc, and a 6 volt battery.

Good luck.