Commit 64c8f7b9a24b1de710ad8413da503d61ede6ae45 to Linux 2.6.32.y broke kvm-kmod. There are preprocessor directives in kvm-kmod that appear to be intended to remedy this, but there is a logical error in them. I have attached a patch that corrects that. I have sent this patch has been sent to the KVM mailing list. This patch was developed against app-emulation/kvm-kmod-3.1, which is not in the portage tree, but it also applies to app-emulation/kvm-kmod-2.6.38.6, which is in the portage tree. Bringing app-emulation/kvm-kmod-3.1 into the portage tree is nothing more than a simple version bump.
Created attachment 297053 [details, diff] This fixes the issue.
This patch has been accepted upstream. It will be in the app-emulation/kvm-kmod-3.3 release.
This is fixed in the tree.