Yes, they make a tool to rethread the hole whithout removing the head. It isn't too expensive but it isn't really cheap either. You can get it at a Carquest but they will likely have to order it. I don;t know about other parts stores. This is a common problem with the Triton engines although it is usually the 5.4 that I hear about the most. It is the one single thing that will keep me from ever buying a 97 and newer Ford truck.

Chris