you can setup more than two site on the same machine
do this
first you go to your setting control panel and then network option
double click on tcp/ip and then go to advance
then add one another ip like 1.2.3.5 and subnet mask is 255.0.0.0 add it
then
go to your iis console manager, and then click on your main machine icon
and right click on it it will ask to you for
setting up a web site new www site. fill the required information and give
this website a different ip whi ch you add earlier in your network setting
now your second site is ready
Cheers
Madan