[quote=DarkwolfX37]
I promise you it's not. It has stood for Save Our Souls since it was first used.
[/quote]

"In popular usage, SOS became associated with such phrases as "save our ship", "save our souls" and "send out succour". These may be regarded as mnemonics, but SOS does not actually stand for anything and is not an abbreviation, acronym or initialism."
So we're apparently both right and wrong.