Small python script to translate English into LOL spelling. You will need to install the eSpeak speech synthesizer (for phoneticization).

LOL> I have a bucket.

ai hav a bukit

LOL> No, they are stealing my bucket!

dei ar stilen mai bukit

LOL> In the beginning God created the heaven and the earth. And the earth was 
without form, and void; and darkness was upon the face of the deep. And the 
Spirit of God moved upon the face of the waters. And God said, Let there be 
light: and there was light. And God saw the light, that it was good: and God 
divided the light from the darkness. And God called the light Day, and the 
darkness he called Night.

enteh beginen g0d kri8ed teh hevan and deh eth 
and deh eth w0z widaut fOam 
and vOid 
and darknas w0z ap0n teh feis 0v teh dip 
and teh spirit 0v g0d muvd ap0n teh feis 0v teh wOtez 
and g0d sed 
let deh bi lait 
and deh w0z lait 
and g0d sO teh lait 
datit w0z gud 
and g0d devaidid teh lait fr0m teh darknas 
and g0d kOld teh lait dei 
and teh darknas hi kOld nait