I have always pronounced it as "eye + talk + ee" (or "i talk e" as you wrote it). I pronounce the first i as the word "eye" or the letter's name since it follows the pronunciation pattern in service and product names like the i in iPhone. I pronounce the final i as e because English words like Burdundi, scampi, hibachi (Japanese in origin but an English word too), brewski, broccoli, etc. all end in an "ee" sound. Of course, words like syllabi and octopi end in an "eye" / "i" sound but they are considered irregulars in English.