Yes, the correct pronunciation is "Linnix", based on the Finnish pronunciation of the creator's name Linus. I actually met him briefly and shook his hand at one of the LinuxWorld shows years ago.
Oh, and SUSE is not pronounced like "Suzie", it's "Sue-ss" - like Dr. Seuss with a schwa () at the end. How do I know? I talked directly with a SUSE developer from Germany.