Yeah, the IAC valve can cause idle RPM to hunt around. And it's a pretty common problem, especially with a lot of miles on it. Plus it's cheap to clean the valve, so it's a good place to start.
How many miles are on yours?
1992 Camry LE, V6 (3VZ-FE), ABS brakes, dark emerald pearl, owned since new. Replaced HGs @332k, now at 357k
1996 Avalon XLS, ABS brakes, super white II, acquired w/ 139k, now at 296k
2001 Yamaha FZ1, Ivan's jet kit, resprung, Ohlins rear shock, Race Tech cartridge emulators in forks, 48k miles