En verdad se pronuncia Goo-gal o algo así.
Yo pronuncio un guguealll (onda conjunción entre e y a con e más marcada)
Edit:
No pude encontrar donda está, pero lo había sacado de un faq de google.com:
Q: [Google.com] How do you pronounce "google"?
A: It is pronounced. Goo - gall which rhymes with "bugle" and a baby's goo-goo cah-cah
Many promotion people do pronounce it Gah-gull as in "boogles the mind". Several linquists have insisted that semantically, it should be pronounced "Gah-gull" as in "boogle".