In IIS 5 and 6, you could export Site configuration settings and import them back on another machine making server migration very easy. When IIS 7 came along, we lost that command in the IIS Manager. Fortunately, there is now a new set of command lines that can do almost the same thing.
Export the web site settings: %windir%\system32\inetsrv\AppCmd.exe LIST SITE "My Site" /config /XML > mysite.xml
Import the settings, do this: %windir%\system32\inetsrv\AppCmd.exe ADD SITE /IN < mysite.xml
The Application Pool has be created manually.