I found some great exercises. These two stretches have come from the May 2004 issue of Running Times Magazine. There are more exercises if you want to check them out. The pictures below are demonstrating a right IT band injury, so if it's your left leg that is hurting, do the opposite.
Stretch #1: You pull your food up to the back of your buttocks. Then cross your uninjured leg over the injured leg and push down for 30 seconds.
Stretch #2: You cross your injured leg over the uninjured side and pull the leg as close to your chest as possible. Hold for 15-30 seconds.
Challenge: If you have IT band syndrome, incorporate one of these stretches into your workout. If not, let me know about something you would like to stretch and work on.