Lyam is a rare and unusual spelling of the word "liam". The correct phonetic transcription for liam is /liəm/. The spelling of lyam suggests that the pronunciation may vary from standard, with an emphasis on the initial consonant /l/ and a possible alteration of the vowel /iə/ to /aɪ/ or /ɑː/. However, due to the lack of widespread usage and documentation, the exact pronunciation of lyam remains uncertain.