Speech-to-Speech (S2S) Large Language Models (LLMs) are foundational to natural human-computer interaction, enabling end-to-end spoken dialogue systems. However, evaluating these models remains a fundamental challenge. We propose SageLM, an end-to-end, multi-aspect, and explainable speech LLM for comprehensive S2S LLMs evaluation. First, unlike cascaded approaches that disregard acoustic features, SageLM jointly assesses both semantic and acoustic dimensions. Second, it leverages rationale-based supervision to enhance explainability and guide model learning, achieving superior alignment with evaluation outcomes compared to rule-based reinforcement learning methods. Third, we introduce SpeechFeedback, a synthetic preference dataset, and employ a two-stage training paradigm to mitigate the scarcity of speech preference data. Trained on both semantic and acoustic dimensions, SageLM achieves an 82.79\% agreement rate with human evaluators, outperforming cascaded and SLM-based baselines by at least 7.42\% and 26.20\%, respectively.