Using Internet Information Services (IIS) Manager, you can create a local Web site for hosting an ASP.NET Web application. This topic explains how you can create a local Web site and configure it to run ASP.NET pages. For more information about how to install and configure IIS, or about how to create a Web site, see the IIS Help or the online IIS product documentation on the Microsoft TechNet Web site.
http://msdn.microsoft.com/en-us/library/33487zw6.aspx