In reply to Escher:
ITBS does go away but it doesn't mean that the problem has. I had it a few years ago and it would come on about 10 mins into a run. I would feel a twinge in my hip, then my knee and then a full on spasm and twisting sensation of the Iliotibial Band along the outside of my right thigh. The leg would then become unsupportive and i had to stop running. I could walk home fine and it wouldn't bother me until i started running again. that is one of the peculiar symptoms of this problem.
The advice you won't want to hear is that you'll need to stop exercising that particular area for 6-8 weeks minimum. the advanced cases of this involve cortisone injections and operations. You need to look at all aspects of how you are training and technique and try to find where the problem lies. With me it could have been too many hills, training twice a day, unsuitable footwear, running on one side of the road (uneven camber)etc. I rested modified all these and it has never returned thankfully. Good luck