I have a domain name, christophep.com, registered at godaddy.com. This domain name is now pointing to a web hosting provider named ASPHostPortal. I have chosen the simple Windows Shared Hosting plan with a 3 year pay for just $1 per month. It is cheap. I have an IIS Web site configured with ASP.NET 4.0. I can can create multiple subdomains and virtual directories.
To test the main virtual directory, I have installed some aspx pages that I have made previously with OfficeLive Small Business site with some minor modifications. It works well.
For the blog, I have created a sub domain name myblog.christophep.com. I have downloaded DasBlog at codeplex.com. The current version is 2.3.1. The web application is made for ASP.NET 2.0 but the web.config file contains a comment for including a directive specific for ASP.NET 4.0.
I have uploaded the entire directory with pages and binary assemblies (compiled for .NET 2.0). It just works.