The answer is somewhat architecture dependent. On an x86, there is no additional overhead associated with volatile reads.
JMM cookbook from Doug Lea, see architecture table near the bottom.
To clarify: There is not any additional overhead associated with the read itself. Memory barriers are used to ensure proper ordering. JSR-133 classifies four barriers "LoadLoad, LoadStore, StoreLoad, and StoreStore". Depending on the architecture, some of these barriers correspond to a "no-op", meaning no action is taken, others require a fence. There is no implicit cost associated with the Load itself, though one may be incurred if a fence is in place. In the case of the x86, only a StoreLoad barrier results in a fence.