Microsoft: Error for Adding SSL Binding in IIS

<<Problem>>
Below is a snapshot of the error message while trying to add the SSL binding in IIS.

<<Cause>>
The most common scenario is when the users use the IIS MMC to import a certificate and they uncheck the option “Allow this certificate to be exported”. This results in a broken keyset and thus results in the problem.

<<Solution>>
There are two ways to fix this problem. Before we start off, delete/remove the existing certificate from the store.

• If using IIS MMC to import the certificate, then ensure that the “Allow this certificate to be exported” is checked.
• If making the private key exportable is not an option, then use the Certificates MMC to import the certificate. Please go through the following KB on how to import a certificate using the MMC: http://support.microsoft.com/kb/232137

Reference:
Error HRESULT: 0x80070520 when adding SSL binding in IIS
http://blogs.msdn.com/b/kaushal/archive/2012/10/07/error-hresult-0x80070520-when-adding-ssl-binding-in-iis.aspx