The fix for this can be found here:
http://forums.asp.net/p/1139555/1835832.aspx
Basically, you run a cmd line command using the sn tool (comes with VS 2005 and/or the .NET 2.0 SDK):
"\sn.exe" -Vr "%ProgramFiles%\Microsoft Visual Studio 9.0\Common7\IDE\iisresolver.dll"
However, you also have to enable Windows Authentication on the site in question.