HTTP Error 503. The service is unavailable

Start with the following article:
http://technet.microsoft.com/en-us/library/dd364074%28WS.10%29.aspx

If necessary download the Err.exe tool listed, report back your findings.

Verify that an application pool worker process is running:

   1.  Click Start, click Control Panel, and then click Administrative Tools.
   2. Right-click Internet Information Services (IIS) Manager and select Run as administrator.
   3. In the Connections pane, select the computer name.
   4. In Features View, under the Feature Name column heading, double-click the Worker Processes management feature. A list of currently active application pools and worker processes will appear.
   5. The State column for the worker process will indicate Running if the worker process is running.
   6. You can also view currently executing requests by right-clicking the application pool name or worker process id and selecting View Current Requests.

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Followed all the steps

Checked worker process all woker process running all ok

What next???

Please locate the specific Error Number from the Event Logs, this will be different than your Event ID:

* Check the event log message for a specific error number that may provide more information. This error number will be different from the Event ID. To do this, perform the following steps.

To perform these procedures, you must have membership in Administrators, or you must have been delegated the appropriate authority.
Check for a specific error number

To check for a specific error number:

   1. In the Event Viewer, select the event that you received.
   2. Click the Details tab, then Friendly View.
   3. If a specific error number is available, the words Binary data should appear.
   4. Below In Words, note the number after the colon.

Error no is 80070005

The error you are experiencing is the same as the example in the TechNet article, it states that this is likely a permission issue with the module.

You will need to go into IIS manager and check that your website and application pools are using the correct credentials.

What should the credentials be?

This depends on the site security settings.  Are you using anonymous access, Integrated Windows Authentication, Digest Authentication, Basic Authentication, .NET Passport Authentication, etc?

Go into IIS Manager, right click on your website's module and select properties, select Directory Security, Select Edit for the Authentication and access control portion.  Which authentication type is listed?

Im a bit confused where/What is the website module???

is this the tab that says default website?

which type of authentication is currently selected?

Mine is totally different view not to sure on IIS7 where i should be looking

Check out the following site:
http://foxsys.blogspot.com/2009/08/iis7-service-unavailable-http-error-503.html

Do a little bit of digging on Application Pools and permissions.

Thanks for all your help so far

But i have looked at that site beore not much help

You may want to close this question and re-ask it, the mods will refund your points and I will steer clear of it!

An expert on IIS 7.5 will swing in to the rescue.