If you are confused looking at the IIS 7.0 UI, you are not alone. I recently had to configure SSL on a IIS 7.0 and had quite some guessing work before I could get it to work. Below documents the procedure required to do this,

1. Open IIS Manager and click on the Web Server on the Connection Pane on the left.
2. On the middle Pane under the IIS section you will see a bunch of options. Select the "Server Certificates".
3. On the resulting page the certs in your LocalMachine->My store should be automatically listed in the Middle Pane. If your server cert is something else, that you have exported then use the "Import..." option on the right pane to get your certificate.
4. Now click on the Web Site on the Connection Pane on the left. On the right pane select bindings and click "Add". Select "https" for the Type, the default port is 443 which you can change and select your Certificate in the SSL Certificate list. Click OK.

You now have SSL enabled using IIS 7.0