With the recent release of the Web Deployment Tool, we made it super easy to export a server configuration, or an application configuration (by using the IIS Manager UI and using the "Export Server Package..." or "Export Application..." actions items.
But if you want to Export a Site package, you'll need to just a little bit of work. I'll walk you through the steps.
Let's start by doing an Export Server Package (you can also start with Export Application, it's just a way to start the wizard).
Click on the "Manage Components" button. The first item will be highlighted in the table, click on the Remove button. Yes, you are sure you want to do this.
Then we will add a new "Provider Name" entry to this list, for an IIS7 website, we will use "appHostConfig" and specify the web site name as the "Path"
Now you should see your website and all sub-applications and files and .net configuration settings included in the package tree.
Click on Next to customize the parameter we auto-generate for the website name and file path. (But the defaults will work fine.)
As normal, specify a location for your .zip file to be saved to, you are done!!
Be aware, that when you want to import a Site Package, you will need to do this at the Server level in the IIS Manager UI (you will get a nice error though if you try this at the site or application level).