Yes. In fact they are more frequently found in siberian iris than in tall bearded iris (based on what I've read).

I went through this a couple years ago. Usually the ones that are infected have torn edges to the leaves I believe. Look for some pics of irises with borers to see what they look like. If it's not too far along you can pull out the borer and squish it, but if the rhizomes is mostly eaten you can divide out any healthy tissue and pitch the rest.

Unfortunately, the only pesticide that treats them is imidaclopramid (terrible spelling there, sorry). It is in the Bayer Rose and Shrub all in one and I sprinkle that on in the spring.

IrisGarden.org is a great website with pics and information under Iris Basics.

Okay ... after more research, it wasn't an iris borer afterall ... it was a wireworm. I found a second one on an iris in the same group. We checked the remaining ones after the removing the first and they were fine, but it must have been in the soil or something. The second damaged iris is not thoroughly rotten, and I'm hoping I can still save the other half of it. I dug up the whole group again, and they will be rechecked and be getting a different home.

I guess I'm happy it's not an iris borer ... wireworm doesn't seem good though.