Sivir needs some love.
For a long while Sivir has been pretty much bottom of the barrel. A lot of her design choices and balancing reasons in her kit are extremely antiquated and seem like they could do with some modernization. I don't believe she needs a complete kit update, her kit on paper is pretty fine. She's a marksman that trades high numbers and mobility for exceptional siege power. Yet she's completely hamstringed by her oppressive mana costs, pitiful range, inconsistent damage, and lack of ultimate.
The biggest issue plaguing Sivir right now, above all else, is her range. I get it, back in the day Sivir was a 500 range marksman and that's kind of been part of her identity. The problem is it isn't adequately made up for in her kit. Kai'sa is a sub-standard range ADC but that's because she has on demand mobility/stealth, strong push potential, burst, and a diving ultimate to complement the idea she's a diving assassin/marksman hybrid. Meanwhile Sivir has... A long range poke move with downscaling damage and a small movement speed boost when she hits something. Not to mention Kai'sa out ranges Sivir. The only marksman right now with the same range as her is Lucian, who has burst and mobility. Bumping her to at least 525 would be a huge step in the right direction, even if her kit justifies 550.
Sivir is arguably the most mana gated marksman in the game. Comparing her to Kai'sa, and another equally good siege adc Xayah, Sivir has 60 less mana at level 1. Her main tool costs 70 mana and scales up to 110. That's more than the standard cost for most character's ultimates! However, Kai'sa's Q stays consistent at 55 mana and Xayah's main wave clear combo of QE is always 90 mana. Keep in mind, Sivir's W also remains consistent at 70 mana throughout the entire game, meaning at level 9 her wave clear combo costs a whopping 190 mana. At level 9 Sivir only has 690 mana, meaning she gets, more or less, only 4 QW combos before she's oom. Is the reason because her double tap Q does a lot of damage? I don't think that's a defensible argument when Kai'sa's isolated Q can completely obliterate people and her evolved Q can destroy entire minion waves with ease. The costs need to be reduced, it's not even a question. The fact sivir can regularly go out of mana after building essence reaver is kind of telling. They're a hold over from a decade ago and it really, really shows.
One of the most frustrating parts about Sivir really boils down to her lack of ultimate. I can look past her pitiful range and atrocious mana issues if her ultimate made it all worth while. Unfortunately, it doesn't. A half as good Reverie for double the duration is not what you want to spend 100 mana on. To make matters worse, it has a 2 minute CD at rank 1. Killer Instinct, Kai'sa's R, has a 110 second CD, and that comes with a shield. Ganted, Sivir's ultimate is a form of team wide utility, but it's extremely weak in the current state of the game. To make matters worse, her laughable steroid is tied to her ultimate rank. Sivir has to wait until level 6 to get 30% attack speed on her next 3 basics, for 70 mana. Meanwhile, Kai'sa gets 40% at level 3 (2 if she takes her E level 2), and is on a roughly 6-7 second CD, depending on how actively she's fighting. Sivir's is 12 seconds at rank 1 W.
Her speedboost is iconic, it might be occasionally why you pick Sivir, but boy does it need more.
So what do we even do with Sivir? If she's too good at her job she can stall games indefinitely and that's not something Riot seems interested in having in the game; however, if you reduce her push power you lose what makes Sivir Sivir. I believe they should retune how her W works. Move the passive attack speed bonus while it's active into its rank and limit the number of bounces. Something like 3 scaling up to 8. As compensation, make it work more like Fiddle E where it can bounce between two targets. This would increase her fight potential while limiting how good she is at indefinitely stalling out the games. With her ability to still clear whole waves in 1 W she'd be great at pushing aggressively but without an ability to effortlessly take down huge waves the enemy team has built up. This provides windows where the enemy can actually push and pressure objectives under Sivir.
I'd also make sweeping reductions to her mana costs, remove the mana restore on E, and reduce the base CD to something around 20-15 seconds. It'd just be a modernization more than anything. Also give her 525 range at the very least.
Lastly, roll some more power into her ultimate. If she's absolutely going to stay at 500 range she needs a way to really play out the fantasy of being a rough and tumble, in your face ADC. It could do with some lifesteal or health on hit effects so Sivir can scrap and fight under her ultimate. The lengthy CD makes it unrealistic to use for sustain so it'd be well suited to the fantasy of a strong battle mistress in the thick of combat.