“Here’s a simple module to solve a recurrent and an annoying everyday task in IIS management: creating an entry in the Windows TCP/IP Hosts file for every demo and test web site.

This module extends the IIS Manager UI in order to add an entry on request in the Hosts file located in%SystemRoot%\System32\drivers\etc\hosts when a web site is created or its bindings are edited.”

IIS Hosts File Manager – Home.

Newer working link:
https://github.com/richardszalay/iishosts