You know it seems quite plausible that could happen because that thyroid gland is responsible for so many body functions, it is part of the endocrine system so I would think that it could certainly be a contributing factor. Google for endocrine gland and I think you'll find lots of insightful info. =)
I'm thinking if IO deficiency can cause cysts on ovaries then why couldn't it affect male anatomy? surely there has to be better answers than this but it's just a thought I had..lol