I learned the word in French. Is it likely that while the French double "l" has a "y" sound, that English writers inserted the "i" after the "ll" to get correct pronunciation?
Why am I remembering opera, a sad sack called Palliace or something like that?
Edit: I found it.
I Pagliacci, variously translated as Traveling Players or Clowns, is a popular and often performed short opera in the verismo style.