Don't know about Illy but in Flexi:
Type our your text and pick your font
With your text selected, click the distort button under the effects menu
Click on distort type on your Design Central tab
Select the "Arch-Top" effect
On the rotation angle set it to 180
Now go yo your text and stretch the text they way you want it
When you have it the way you want click the check mark in the Design Central.
You can go back to Design Central to edit the arch if needed.