I love it. Ili is an emphatic abbreviation used mostly on the Internets. The world needed another filler for conversations and "lol" gets old fast, so ili was created. Lots of friendly conversations involve liking or loving what the other person is talking about, so "ili" serves a greater purpose than "lol" (since almost nobody literally laughs out loud whilst lolling). ili = i love it OR i like it, but the former is used most often (for more emphasis).
Person #1: I just got the new Adele album and it's absolutely AMAZING!