The lying IT Band Stretch is an extremely good exercise that will help to lengthen the ITB and increase your flexibility.
Here are the details as to how to stretch your right IT band. To begin with lie on your back and put your right ankle on your left knee.
Next, grab behind the left knee with your left hand and pull the knee towards your chest. As you pull your left knee towards your body this will bring your right foot forward and you should feel a stretch on your right hip and buttock area, as well as down the outside of the right leg. This stretch should be held for 20-30 seconds on each side.
To enhance the stretch, you can push your right knee away from you with your right hand, and crunch your stomach at the same time. You should really feel the pulling and this is a great exercise, but be careful not to overstretch.