Microsoft Web Platform Installer 2.0

The Microsoft Web Platform Installer 2.0 (Web PI) is a free tool that makes getting the latest components of the Microsoft Web Platform, including Internet Information Services (IIS), SQL Server Express, .NET Framework and Visual Web Developer easy. The Web PI also makes it easy to install and run the most popular free web applications for blogging, content management and more with the built-in Windows Web Application Gallery.

Not going to test it but it claims to setup a PHP environment too. Personally I would recommend WAMP for setting up a PHP environment in Windows.

Link:
http://www.microsoft.com/web/Downloads/platform.aspx