I have never heard it pronounced in any other way than "s-q-lite".
Officially it’s S-Q-L-ite, as if it were a mineral.
Not Sequel-lite?
Nope. A quote from Dr. Hipp:
"How do I pronounce the name of the product? I say S-Q-L-ite, like a mineral."
This feels like the most ridiculous option and one I've never heard in the wild. Sequel-ite, S-Q-lite, sure. S-Q-L-ite, nah I'm not buying that. Kinda like the inventor of GIF insisting on pronouncing it wrong (I kid)
He's also said he doesn't care how other people pronounce it, so thankfully you're safe.
Phew!
Odd. I've never heard it pronounced in any other way than "Sequel-lite".