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Looks like your version of OS X is not compatible with this particular binary. First suggestion is to upgrade to Sage 8.0; Sage 5.11 is quite old. Second, exactly what version of OS X (and possibly which chip) do you have? That may help us diagnose the exact problem. This is the sort of message that occurs with this incompatibility on many occasions.

Finally, my answer, if you are using command line anyway, is to try compiling from source. Just typing git in a command line should ask it to download the command line tools, and then you can more or less follow these instructions. Good luck!