Conditions are presented for closed-loop stabilizability of linear time-invariant (LTI) multi-input, multi-output (MIMO) plants with I/O delays (time delays in the input and/or output channels) using PID (Proportional + Integral + Derivative) controllers. We show that systems with at most two unstable poles can be stabilized by PID controllers provided a small gain condition is satisfied. For systems with only one unstable pole, this condition is equivalent to having sufficiently small delay-unstable pole product. Our method of synthesis of such controllers identify some free parameters that can be used to satisfy further design criteria than stability.