ASP.NET is enabled in IIS 7 by default.
So yes, you could make an ASP.NET page just to do the image manipulation and mix it with your ASP pages. One warning: Session variables don't transfer from ASP to ASP.NET, so you'd have to find another way to pass information. <form> posts can, of course. And you could certainly use AJAX or server-side equivalent.
An optimist sees the glass as half full.
A pessimist sees the glass as half empty.
A realist drinks it no matter how much there is.