"My name is Leenus Torvalds and I pronounce Leenux, Leenux"
And while there's some slack on how to pronounce SQL (because of the origins (QUEL from Stonebraker and then the whole SEQUEL/SQL issue), it's understandable and acceptable that people could pronounce it either way.
However with Linux, given that the author is named Linus and has named it after himself, I think it's fair to say, Leenux is the proper way.