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

KVM host support for ARM cpus.

modulename: kvm.ko

configname: CONFIG_KVM_ARM_HOST

Linux Kernel Configuration
└─>Virtualization
└─>KVM host support for ARM cpus.
In linux kernel since version 3.1 (release Date: 2011-10-24)  
Provides host support for ARM processors.

source code: