Dictionary: illusive   (ĭ-lū'sĭv)

Illusory.

adjective

1. Of, relating to, or in the nature of an illusion; lacking reality: chimeric, chimerical, delusive, delusory, dreamlike, hallucinatory, illusory, phantasmagoric, phantasmal, phantasmic, visionary. See real/imaginary.
2. Tending to lead one into error: deceptive, delusive, delusory, fallacious, illusory, misleading. See honest/dishonest, real/imaginary.
3. Tending to deceive; of the nature of an illusion: delusive, delusory, illusory. See real/imaginary.

The adjective has one meaning:

Meaning #1: based on or having the nature of an illusion
  Synonym: illusory