The old woman said, "May you live long!" (Narration)

The old woman wished that he should live long

The old woman wished that he might live long

The old woman cursed that he might live long

The old woman prayed that he might live long

All of these

The given sentence is an example of an optative sentence

If the reported speech starts with 'may', then the reporting verb 'said' is replaced with word 'prayed'.