LO has it. We were told that she would grow out of it between 6 and 12 mos. It gets worse when she has bad reflux, or is worked up/crying. In all honesty, I don't mind that she squeaks. :) But we do have to explain it to people who aren't around her very often, because they think that she is having a hard time breathing when in reality it is just the vibration that we are hearing.
I kind of like that I can hear her when she is sleeping, I think that once she grows out of it I will be checking on her every two minutes to make sure she is still breathing!