Goddamnit, I always misspell it. Interesting; had never read about the origin of the term.
So that's a reasonable approximation. The vowels are off. If you know Spanish pronunciation, it's exactly the same for this word.
Specifically, The E sound is actually the single-vowel /e/, not the diphthong /aɪ/. The "uh" in both words is closer to "ah".