1. SAY-ray: This pronunciation is common in the context of the Biblical figure Sarai, the wife of Abraham.
2. Suh-RYE: This pronunciation is more common for the Hebrew name Sarai, which means "princess" or "my lady."
So, if you're talking about the Biblical figure, it's pronounced SAY-ray. If you're talking about the name in general, it's pronounced Suh-RYE.