I found this post which suggested to have two separate IP addresses so that both could listen on port 80.
There was a caveat that you had to make a change in IIS because of socket pooling. Here are the instructions based on the link above:
httpcfg.exe
utility from the support tools area on the Win2003 CD.net stop http /y
httpcfg set iplisten -i 192.168.1.253
httpcfg query iplisten
(The IPs listed are the only IP addresses that IIS will be listening on and no other.)net start w3svc