How it sounds:

Es toll ahda see low may
Melah Melah
Estol ahda see low may
Oooo nee tanya
Melah eela
Denya linya saleeva tenpla

Possible Elvish Words:

Estel arda silme (is pronounced from one source see-loh-may)
Melah melah
Estel arda silme
oooo nin taen naur
melah ialla
dihenam linna silevril ten palla (x2)

better translation for the song may be:

Hope within moonlight
love, love
hope within moonlight
my longing for you is like fire
let our love cry out and shine it's radiant light through all the land