How to Increase Memory Allocated to IIS .NET Application?

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http://serverfault.com – We are using Windows 2008 R2 and IIS 7 running on Amazon EC2. IIS is running a single .NET application written in C#. We are having performance issues and I want to give the application more memory, but I cannot figure out how to do it. How do I control the amount of memory that the CLR gets? I'm a total newbie with IIS, .NET and the CLR. If I were working with Java, I would just use the -Xmx flag to increase the memory available to the JVM (e.g., -Xmx3000m for 3GB). But, I cannot seem to figure out how to do this in the Windows world. (HowTos)