Installing HTTP Component with MSMQ 3.0 Fails With error 0x80070422

On Windows 2003 Server if you are trying to install MSMQ with HTTP Component then the installation may fail with the following error "The application for the IIS extension with the path /LM/W3Svc/1/Root/MSMQ could not be created. hr = 0x80070422 "

To Resolve this all you need to do is make sure that COM+ System Application Service is started. If it is not started, then start it and also make sure that the startup type is set to Automatic.