Boaf is correct.

WIKIPEDIA FTW.

As I said, that is not english.
Also, it says that the little w with the tail is "Spanish agua."

I pronounce it like, "Ooo-keh", with the "Keh" cut in half, kind of like the spanish "Quщ"...
For you scandinavians out there, i say it like "Uh-kјh/uh-kіh".

I say luke with out the l.

I say it "you-kay".

You-Kee.

I say uu-keh. Probably because I am indeed Japanese.

It's similar to oo-kei according to the sensei at mah judo place >.>

holy crap i didnt know i wasnt the only one who has been guessing this whole time. Thanks ill go with ookay.