Hi Darra,
Although I have not much experience with such an analysis, I think that I-DEAS is not capable of it. I assume that you want to simulate how the empty balloon is filled with gas and subsequently gets larger until it is completely filled. I see the following obstacles for I-DEAS:
1. You'll probably have to consider special material laws for the balloon skin, they're probably not available in I-DEAS
2. I-DEAS cannot cover large displacements which occur during the inflation of the balloon
3. Depending on what you want to analyse, you'll have to perform a CFD study in order to determine the velocity/pressure field of the gas filling. In the worst, You end up with a coupled flow+structural analysis (gas + ballon skin)
However, you could use I-DEAS as preprocessor, i.e. generate geometry, mesh the whole thing, apply boundary conditions and export the FE-model to your chosen analysis tool. If you're concerned with 1. and 2., one of the "big players" in FE analysis (ANSYS, NASTRAN, ABAQUS) should do.
Cheers,
Daniel