CONFIG_ARCH_IQ80321 is not available for thedefaultarchitecture x86.
Result is shown for architecture arm

Enable support for IQ80321

modulename: iq80321-mm.ko

configname: CONFIG_ARCH_IQ80321

Linux Kernel Configuration
└─>IOP3xx Implementation Options
└─>Enable support for IQ80321
In linux kernel since version 2.6.12  
Say Y here if you want to run your kernel on the Intel IQ80321
evaluation kit for the IOP321 chipset.

source code:
/arch/arm/mach-iop3xx/