I would say LIE-rah. I wouldn't have thought of LEER-ah, but it could work too. I don't love it. Leer doesn't sounds very nice to me.
Three boys nappin', one mama namenerdin'
To peruse my top 100ish names:
http://www.behindthename.com/pnl/82589To peruse my non-name musings:
http://jodifriesen.blogspot.ca/