I know this is short for evaluation, as given by an engine, but I don't know how to pronounce it. My guess is simply like the first two syllables of evaluation but I would like to be reassured.
You pronounce it like the first part of the word "evaluation".
There's actually an internationally standardized way of writing words phonetically which is employed in most modern dictionaries. Meriam-Webster's dictionary also provides links to audible pronunciations of most words, including this one.