Spin ice materials, such as Dy2Ti2O7 and Ho2Ti2O7, are highly frustrated magnetic systems. Their low temperature strongly correlated state can be mapped onto the proton disordered state of common water ice. As a result, spin ices display the same low temperature residual Pauling entropy as water ice, at least in calorimetric experiments that are equilibrated over moderately long time scales. It was found in a previous study [X. Ke et. al. Phys. Rev. Lett. 99, 137203 (2007)] that, upon dilution of the magnetic rare-earth ions (Dy 3+ and Ho 3+ ) by non-magnetic Yttrium (Y 3+ ) ions, the residual entropy depends non-monotonically on the concentration of Y 3+ ions. A quantitative description of the magnetic specific heat of site-diluted spin ice materials can be viewed as a further test aimed at validating the microscopic Hamiltonian description of these systems. In the present work, we report results from Monte Carlo simulations of site-diluted microscopic dipolar spin ice models (DSIM) that account quantitatively for the experimental specific heat measurements, and thus also for the residual entropy, as a function of dilution, for both Dy2−xYxTi2O7 and Ho2−xYxTi2O7. The main features of the dilution physics displayed by the magnetic specific heat data are quantitatively captured by the diluted DSIM up to 85% of the magnetic ions diluted (x = 1.7). The previously reported departures in the residual entropy between Dy2−xYxTi2O7 versus Ho2−xYxTi2O7, as well as with a site-dilution variant of Pauling's approximation, are thus rationalized through the site-diluted DSIM. We find for 90% (x = 1.8) and 95% (x = 1.9) of the magnetic ions diluted in Dy2−xYxTi2O7 a significant discrepancy between the experimental and Monte Carlo specific heat results. We discuss possible reasons for this disagreement.