Perhaps even more pedantically, SQL is actually an abbreviation of an acronym. It was originally conceived as SEQUEL for Structured English QUEry Language[0], only being abbreviated to SQL for legal purposes (SEQUEL was already trademarked).
For this, and sheer convenience, I take the stance that it should always be pronounced as "sequel" rather than pronouncing each letter.
I skimmed the Wikipedia article and didn't notice any mention of removing the initialism. I did find a note that the original language standard did define the "es queue el" pronunciation, but since no one is standards compliant anyway, I think I'll still stick with "sequel" (:
Someone there also keeps saying that the second reference on the article explicitly says it's not an acronym, but the current second source explicitly says it is, so... ¯\_(ツ)_/¯
I'm forced to disagree with you here. I take the stance that it should always be pronounced as "squirrel", because seriously, who doesn't like squirrels? :)
For this, and sheer convenience, I take the stance that it should always be pronounced as "sequel" rather than pronouncing each letter.
[0] https://en.wikipedia.org/wiki/SQL#History