Hello Myke,
The IIC pins on the 'QG8 will have internal diodes present, and these must not conduct to a significant degree, under normal circumstances. In your case, you also have to consider the battery life.
I presume that the battery would consist of two alkaline cells, so the maximum voltage, when they are fresh, will be less than the regulated 3.3 volt level.
I guess there are two possible solutions - connect the IIC pullup resistors to the battery supply, or supply the 'QG8 device from the regulated supply.
I would estimate that the boost-buck arrangement, assuming a non-switching buck regulator, would probably have an efficiency of 30-35 percent only. Therefore the second connection method would require that the average current draw of the 'S8 be significantly less than that of the 32-bit MCU, so as not to degrade the battery life too much.
If the overall current levels are relatively low, and the regulation requirement is not too severe, you might also consider using a regulated charge pump device. It may even be feasible to utilize a single boost regulator with 3.3 volt output, depending on what happens when the battery voltage is only slightly below the output level. Either of these methods should give a much improved efficiency, resulting in longer battery life.
Regards,
Mac