Moving Reporting Services webservice to another machine. Is it possible?

Does anyone know if it is possible to Move Reporting Services webservice to another machine running IIS? Any detail will be greatly appreciated.

Not sure what you mean by "moving the web service". You can install Reporting Services on another machine and then connect to the existing database. You will need to extract the encryption key and re-apply it on the target machine. In RS2005, you can do this with the graphical configuration tool. In RS2000, you have to use the command line.