The spelling of the phrase "lady pleasure" is straightforward, with no unusual or conflicting sounds. "Lady" is spelled with a long "a" as in "may," an "l" and a "d" sound. "Pleasure," on the other hand, is spelled with a short "e" as in "pet," a "zh" sound represented by the "s" in "measure," and a final "r" sound. Therefore, the IPA transcription for this phrase would be /ˈleɪdi ˈplɛʒər/.