Creating two applications inside one website in IIS 5

Question

Hi, is it possible to create two applications inside default website of IIS5.1 that comes with XP?

One of the application namespace is like aaa.bbb.ccc.

So I need url like

http://localhost:8080/default.aspx 
 and
http://localhost:8080/aaa.bbb.ccc/Myservice.svc
 both to work.