Arab lipread quip, missing odd bits (5)
I believe the answer is:
iraqi
'arab' is the definition.
(I've seen this before)
'lipread quip missing odd bits' is the wordplay.
'missing odd bits' means one should take alternating letters.
'lipread'+'quip'='lipreadquip'
The alternate letters of 'lipreadquip' are 'IRAQI'.
(Other definitions for iraqi that I've seen before include "Citizen of Baghdad, say" , "Native of Baghdad, perhaps" , "Native of Basra, perhaps" , "From Basra, possibly" , "Baghdadi, perhaps" .)