The speech intelligibility index (SII) is an often used calculation method for estimating the proportion of audible speech in noise. For speech reception thresholds (SRTs), measured in normally hearing listeners using various types of stationary noise, this model predicts a fairly constant speech proportion of about 0.33, necessary for Dutch sentence intelligibility. However, when the SII model is applied for SRTs in quiet, the estimated speech proportions are often higher, and show a larger inter-subject variability, than found for speech in noise near normal speech levels [65 dB sound pressure level (SPL)]. The present model attempts to alleviate this problem by including cochlear compression. It is based on a loudness model for normally hearing and hearing-impaired listeners of Moore and Glasberg [(2004). Hear. Res. 188, 70–88]. It estimates internal excitation levels for speech and noise and then calculates the proportion of speech above noise and threshold using similar spectral weighting as used in the SII. The present model and the standard SII were used to predict SII values in quiet and in stationary noise for normally hearing and hearing-impaired listeners. The present model predicted SIIs for three listener types (normal hearing, noise-induced, and age-induced hearing loss) with markedly less variability than the standard SII.