Windows 7 Internet Explorer 9 Error 800706b5; Interface is unknown

Hi,
I had a macro that opened a website, gave values to various objects(radio buttons,dropdown lists, textboxes etc) and then clicked a submit button.
The macro was working fine on Windows XP pro with Internet Explorer 6. Now I have Windows 7 and Internet Explorer 9 and I get the same error message, no matter what.

run-time error ;2147023179 (800706b5)
Automation error
The interface is unknown

Here's the code I'm using:

dim IE as object
set IE = createobject("internetexplorer.application")
IE.navigate "URL"

While IE.busy
            Application.Wait Timevalue("00:00:01")
Wend

When debugging the IE object is fine until it navigates to the URL. When I add a watch for the object named IE all it's features have values and the object type is WebBrowser2, then after the line ie.navigate "URL" it loses all it's content. All the features get a value of <Automation error> and the type is just object.
Then when proceeding to the next line and calling on the IE object the error message comes.
I've seen other people having the same problem, and I tried a number of the suggested solutions, like adjusting internet explorer safety measures or approach the task with VBscripting, but the problem persists.
Please help!