I'm a Finn and it's definitely a Finnish name! :) I'm not aware of any specific meaning for it though - according to one Finnish site it seems to be just formed based on popular older Finnish female names Aila and Laila.
As for the pronunciation, the one you mentioned is probably how English speakers would describe it, but as Finnish pronunciation differs vastly form that, I'll just attend an IPA type pronunciation guide: [sAilA] (where the A is the 'a' sound, the vowel sound in English words "run", "strut", and the 'i' is as in word "sick").
Hope this is of some help :)
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