The Collaborative International Dictionary of English v.0.48:

Elide \E*lide"\, v. t. [imp. & p. p. Elided; p. pr. & vb. n.
   Eliding.] [L. elidere to strike out or off; e + laedere to
   hurt by striking: cf. F. ['e]lider. See Lesion.]
   1. To break or dash in pieces; to demolish; as, to elide the
      force of an argument. [Obs.] --Hooker.
      [1913 Webster]

   2. (Gram.) To cut off, as a vowel or a syllable, usually the
      final one; to subject to elision.
      [1913 Webster]

WordNet (r) 3.0 (2006):

elide
    v 1: leave or strike out; "This vowel is usually elided before a
         single consonant"