In the United States I have heard this pronounced Mih-KAYL. While it may be an incorrect pronunciation, it's a likely Americanized, Anglicized pronunciation that many unfamiliar with the name may default to so if you live in the U.S. be prepared to correct folks on pronunciation.
Although the proper pronunciation is mee-KYLE, the Mikhail at my school pronounces his name as mah-kale, two syllables. And that's what everybody calls him.
The right pronunciation of Mikhail is not mee-KYLE. It's pronounced like mee-HA-ee-le, with the letter "l" pronounced lightly at the end. The stress is on the letter "а". Also, the Russian "ха" of Михаил is like a deep-throat "HA" sound, like the "ch" of Scottish "loch", so it's nothing like the letter "K" in English.