I have just tried it on IB 3.2.2: Drag the button on the window, make sure it is selected (only click it once until you can see the eight blue handles around it, not twice!). In this situation the menu Layout -> Embed Objects will have the Matrix option available.
Now you can option-click and drag the lower handle of the button to add more buttons horizontally. Similarly, you can add buttons to the left, to the right or at the top, thereby creating the desired matrix of buttons.
EDIT: This recipe only works when developing for MacOS, not for iPhoneOS. I am not aware of an equivalent of NSMatrix
on the iPhone. I guess the UI is simply meant to not include such elements.