Multiple SSL Certificates on 1 Server

Hello. I was recently tasked with consolidating multiple websevers (win2k3)into one Win2k3 server. The problem I’m getting is W3SVC errors stating

“One of the IP/Port combinations for the site ‘blahblah’ has already be configured to be used by another site. The other site’s SSL configuration will be used.”

I currently have 2 certs on the server and 2 IP addresses assigned to the NIC. Do I need to have an individual IP Address for each site to get rid of the error? The sites all currently work and show the correct certificates but the W3SVC errors are giving me headaches.

**Update**
After further research the server I’m copying has the same errors on it. Is there a security risk or any risks that I need to know about?