According to the Merriam-Webster's 11th Collegiate Dictionary (online version), that spelling and pronunciation, while they are common and go back to the 16th century, are non-standard.
It's mischievous, not mischievious.
This is the place where Richard Mateosian comments, sometimes nitpickingly, about questions of writing style, grammar, and vocabulary that occur to him as the words of others impinge upon his consciousness.