In Welsh Lael means "little flower of God". And in Arabic it means "Night". The name comes from Numbers 3:24 in the Old Testament, where Lael was the father of Eliasaph; the man in charge of the Gershonite tribe who took care of the fabrics of the Tent of Meeting (AKA the Tabernacle).
Lael Litke is an LDS author that wrote a lot of books for kids, like "Blue Skye" and "Getting Rid of Rhoda" etc. She is my grandmother's cousin and is very well known -- here in Utah, anyways.
In Hebrew it's pronounced Lah-ehl as another said. Bibles have the pronunciation of names, but they are the English pronunciation. Like Jesus, his "real" name or the original Hebrew is Yeshua.