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c.1200, "skillful, clever, dexterous," from Old Norse sloegr "cunning, crafty, sly," from Proto-Germanic *slogis (cf. Low German slu "cunning, sly," German schlau), probably from base *slak- "to strike, hit" (see slay (v.)), with an original notion of "able to hit." Cf. German verschlagen "cunning, crafty, sly," schlagfertig "quick-witted," literally "strike-ready," from schlagen "to strike." A non-pejorative use of the word lingered in northern English dialect until 20c. On the sly "in secret" is recorded from 1812. Sly-boots "a seeming Silly, but subtil Fellow" is in the 1700 "Dictionary of the Canting Crew."
Secretly and deceptively: sold that equipment on the sly