I love it. It's cute and has good flow. 
Just curious, do you pronounce it the same as Emilia or is the middle sound more of a -meal- (as opposed to -mealy-)? Don't know if I'm being clear about the distinction, or if it's enough of a difference to matter...
DH and I were tossing around Emilia but thought it sounded too Spanish (he's Icelandic and I'm German/Irish so we make SUPER pale kiddos) We like the nn Emmie but not the popularity of Emma/Emily so this is one we might consider.