Not that I know of.
You could export a section to GeoTIFF or TIFF with the free LizardTech MrSID GeoViewer, but unless it's a much smaller section, it might not help - TIFFs are bigger files than MrSIDs.
You can always convert the TIFF to a JPG as well to save a
considerable amount of space (with little loss visual quality).
Memory use would be about the same with it loaded since it is
uncompressed in memory.
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