A couple of things to ask:

1.  How old are you shoes, may be time to replace.  300-500 miles shoes should be replaced.

2.  Correct type od shoes?

3.  Make sure you are streching your IT bands after your runs?

Good luck

Are you training in only one pair of shoes?  If so, you might find quick relief by adding another pair of running shoes, hopefully made by a different manufacturer, to your shoe collection.  Also, what kind of shoe are you running in currently? There are recent medical studies showing that runners wearing motion control shoes are more (not less) likely to have injuries.  I used to run in stability plus shoes, but switched to neutral shoes after feeling severe pain while running in stability shoes.  Even though I don't match any of the criteria, I have run better in neutral shoes.

Also, where you are describing the pain makes me think that you may see quick relief by exercises that work on your knee stability.  Try any number of quad strengthening exercises, from wall-sits to lunges to reverse lunges.  Do these on non-running days at first.