What is the ionic equation for reaction of potassium permanganate with potassium iodide? The half equation for the reduction of the permanganate would be

$$\ce{5e- + 8H+ + MnO4- -&gt; Mn^2+ + 4H2O}$$

But with regards to the iodide, I am very confused. I have seen some sources say that $\ce{I-}$ is oxidised to $\ce{IO3-}$ in this reaction, and others saying that it is oxidised to $\ce{I2}$.
How stable is $\ce{IO3-}$ in the presence of $\ce{I-}$ under acidic conditions? 

It would end up being in an equilibrium with very few $\ce{IO3-}$ anions and lots of iodine, due to the following equilibrium:

$$\ce{2 IO3- + 12 H3O+ + 10 I- &lt;=&gt; 6 I2 + 18 H2O}$$