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When converting a raster to a MrSID with either ArcToolbox or ArcCatalog the following error occurs:
"Input file exceeds 50 megabytes. A license is required for files of this size."
There is a limit based on the rasters height, width, and number of bands not the file size on disk.
To determine if the input image exceeds the limit mulitply height x witdth x number of bands. If the result is greater than 50 million the image will not convert to a MrSID.
For more information on this limit see: ArcGIS Desktop Help > Contents > ArcCatalog > Working with rasters > About MrSID.
The MrSID Encoder license has a limit of 500 million pixels, where the height x width x number of bands may not exceed 500 million.