The built in web server in Visual Studio (IIS Express for VS2010 and newer)
is a convenient built in dev environment. It's much easier to use than full IIS
and is the default for new web projects. While developing in a local copy of IIS
may be needed for some customers, for those who want a simpler (zero
configuration) development server, it's often quite suitable
The one big problem it's had has been that since Visual Studio itself is a
32 bit process, IISExpress was defaulted to running 32 bit. This has made it
difficult to develop and test in 64 bit. For a long time, the solution was to
use a local IIS instance.
However, it is possible to toggle IIS Express's "bitness" to 64 or 32
VS2013 and newer
For Visual Studio 2013 and newer, this is a fully supported feature, built in
and just needs a quick dive into the options menu
    - Go to Tools -> Options on the main menu
 
    - Then in the Options dialog, expand "Projects and Solutions"
 
    - Now, go to the Web Projects tab
 
    - Check (or uncheck) the "use the 64 bit version of IIS Express for Web Sites
    and Projects" checkbox
 
    - Click OK
 

VS2012 
For Visual Studio 2012,it requires a registry hack
It is STRONGLY recommended to use VS2013 or later if you need IIS x64 support
and not to use the registry hack as it's not 100% reliable
    - Run Regedit
 
    - Navigate to
    HKEY_CURRENT_USER\Software\Microsoft\VisualStudio\11.0\WebProjects
 
    - if the RegDword Use64BitIISExpress exists, set its value to 1 to enable 64
    bit (0 to use 32 bit)
 
    - if the RegDword Use64BitIISExpress does not exist, create it and set to 1 to
    enable 64 bit (0 to use 32 bit)
 

VS2010 and Older
The built in web server does not support x64 in VS2010 and older - if you
must use one of these IDEs you'll need to use a local copy of IIS to
develop/test in x64
For more information, please see:
 INFO: Bitness Roundup Whitepaper: x86, x64, AnyCPU
Original Article:
Q10450 - HOWTO: IISExpress in 64 bit / 32 bit