Yes! But since one word changes the whole meaning, you can also add «вот» in front of it, so it becomes «Вот, пожалуйста!» and it totally means “Here you are!”
The й is simply not pronounced in this word.
Have a listen to the examples at https://en.wiktionary.org/wiki/%D0%BF%D0%BE%D0%B6%D0%B0%D0%BB%D1%83%D0%B9%D1%81%D1%82%D0%B0 , for example, or https://forvo.com/word/%D0%BF%D0%BE%D0%B6%D0%B0%D0%BB%D1%83%D0%B9%D1%81%D1%82%D0%B0/#ru .
It's like expecting to hear an "o" sound in the word "people" :) You spell it, but you don't say it.
I think that's a feature of this particular word, rather than a general rule.
Compare здравствуйте, for example, where the first в is not pronounced but the й is.