What does the name "Khalid" mean?

My first name is Khalid. In Arabic, this is خالد. It was originally spelled Khaled with an "e", to be more in line with the Egyptian pronounciation, but at some point I decided that Khalid with an "i" is closer to the classical version. The problem is that in English, this is taken to be a long "i", as in "-leed". It is more like "lid".

Khalid is a pre-Islamic Arabic name meaning "immortal". One of the earliest famous persons called Khalid is Khalid Ibn Al-Walid, a n Arab general whose conquests against the two most powerful empires of the time (Byzantine and Sassanian) brought him everlasting fame. He is one of a few military commanders who never knew defeat in battle.