The reading for this word is completely irregular, so here's a mnemonic to help you remember it:
You call the fish police to arrest that thieving squid, but it jumps into it's eagle car (いか) and makes a swift getaway. In case you didn't know, an eagle car is an eagle moonlighting as a car. The eagle car is zooming up into the sky, so there's no way the fish police can catch it now.
Squid sashimi is my favorite food.
I'm thinking about making stewed cuttlefish this evening.