I started taking lutera birth control 7 days ago. If I stop the pill now will I ovulate this cycle or will I still have to wait for my next cycle?

Yes, you will. If you stop the pill you will ovulate. Why do you want to stop it? If you are having side effects such as nausea, make sure you are taking the pill at night. Nausea will resolve in a few weeks. Breast tenderness also resolves. It takes 3 months for the cycle to regulate. It takes 2 weeks to become effective so condom use is recommended the first 2 weeks.