Is it running?
click Start --> click Control Panel --> cilck Administrative Tools --> click Internet Information Services.
In here you can see "Local" it should have "Yes" if it shows "No" Then right click on it click "All Tasks" --> click Restart IIS...
You can see alot more in here also like the version of IIS you have "IIS V5.1 is what I have.
You can make Virtual Directories and more. Spend sometime and use the help, that is how I got through it.
If you are using Microsoft Visual Web Developer 2005 Express then you don't need IIS because it has a built in server run testing.
Anyway its been along time since I have used my IIS on my computer so I hope some of this helps.
Take Care and Happy Coding!