The Collaborative International Dictionary of English v.0.48:

Parrakeet \Par"ra*keet`\ (p[a^]r"r[.a]*k[=e]t`), Parakeet
\Par"a*keet`\, n. [See Paroquet.] (Zool.)
   Any one of numerous species of small parrots having a
   graduated tail, which is frequently very long; -- called also
   paroquet and paraquet.
   [1913 Webster]

   Note: Many of the Asiatic and Australian species belong to
         the genus Paleornis; others belong to Polytelis,
         Platycercus, Psephotus, Euphema, and allied
         genera. The American parrakeets mostly belong to the
         genus Conurus, as the Carolina parrakeet (Conurus
         Carolinensis).
         [1913 Webster] Parral

WordNet (r) 3.0 (2006):

parrakeet
    n 1: any of numerous small slender long-tailed parrots [syn:
         parakeet, parrakeet, parroket, paraquet,
         paroquet, parroquet]