It won't tolerate excessively moist soil. "Well-draining" is the usual catch phrase but it can also tolerate some rather dry conditions. But not standing water for any length of time.

Thanks, gardengal. I've put a few willows in this bed, (hakuro nishiki) which have helped with the water issues in spring, (not as much standing water and for shorter periods of time now) but it is still a very damp bed. Guess I'll find another spot for the ilex, and look for a different evergreen for this bed.

Thank you!