Do you use clipless pedals? If so, it's possible that your foot is being held in a position that stresses your IT band. A professional fitter may be able to adjust your cleat to reduce the stress on your IT band. That's what happened in my situation although I still experienced some IT band pain after long, hilly rides. I ended up switching back to platforms because of an ankle injury. The platforms have totally eliminated my IT band pain.
LORI
Pivot Mach 4 / WTB
Updated Vintage Terry Symmetry / Bontrager InForm RL WSD