Asp – Updating web server from ASP.NET 1.1/2.0 to 3.5

asp.netiis

I'm still fairly new to ASP.NET development so bear with me.

I'm going to start development on an updated version of an ASP.NET 1.1 website, which I will develop in ASP.NET 3.5. Currently, my development server allows me to run web sites on 1.1 and 2.0. I've had the 3.5 framework installed, but is there any other configuring/issues I should know about? This server will need to keep running the ASP.NET 1.1 web site alongside the 3.5 one I will be developing.

Thanks in advance.

EDIT: Although I have .NET 3.5 framework installed, when I go into IIS and create a new Virtual Directory, it only gives me the options of 1.1 or 2.0.