Installing a 2nd nic and connecting it to another pc via a crossover cable or hub (as stated in answer #3) will work. However, it will not give the second computer access to the internet. If you desire to give the second computer internet access via the cable modem, you must incorporate a proxy server to provide NAT (network address translation) to the second PC. This can be accomplished relatively easily by employing one of the following...
1. A proxy program like Wingate. However, it isn't compatible with everything and has problems with some gaming communities.
2. A router/firewall. For about $200 you can go to comp-usa and pick up an internet router (with NAT proxy built in) and it's really easy to configure. You just need to connect that to your cable modem, then a hub to the router, then the pcs to the hub. No second nic needed.