You tried using a foam roller for body weight massage? Should be a staple of everyone's physical regimen. Do it 2-3x a day. The roller hits that IT band oh so good and loosens it up but not without lots of pain from the deep tissue massage. I'd reckon you just need to loosen it up. If it were injured, you'd be in dire straits.
One of my soldiers told me this and I have since added it in my morning routine. I do find that the less active in a day I am (skip a run or a surf) the more the next day its tight, especially after sitting down.
I hear that a lot of athletes end up suffering from IT issues due to not knowing how to stretch it (or in my case) thinking the IT band is a part of Geek Squad.