YMMV but I (in a typical white American non-religious family) wouldn't be comfy enough to use a Sanskrit name based only on having read about it. As a middle name, definitely, but not as a first name.
If you were more gutsy than I, though, I'd not get a bad impression from it on your daughter. I'd probably just assume that you had some connection to Hinduism. I don't think it'd be irreverent. I mean, people use the names of mythological figures and gods all the time without really caring about their deeper significance. It would just seem a little superficial, celeb-style, if you didn't have any connection.
I'd probably be annoyed if I had a daughter Sarasvati nn
Sara "SAH-ra" and people pronounced
Sara "SAIR-a," the way they'd be likely to do. Assuming that the
Sara part of Sarasvati is pronounced SAH-ra. But they'd get used to it, just like I finally got used to the two pronunciations of
Tara.