you can use other ports or you can also create other web sites in IIS.

You can create arbitrary host names in Windows\System32\drivers\etc\hosts file. You must run Notepad as Administrator to edit this file. But you can add

somemadeuphost 127.0.0.1

and then create a new web site in IIS and add a host header for somemadeuphost

This video about hosting multiple sites has some good information about host names and how to use them on a local machine

http://www.mojoportal.com/video-hosting-multiple-sites-based-on-host-name.aspx

Or the new IIS Express included with WebMatrix, makes it easy to run sites on other ports on your local machine.

Hope it helps,

Joe