I noticed in the feature list that the hosting package I have comes with two dedicated IP addresses. I thought that was cool and wanted to divide up my domains between the two IPs. I couldn't find a way to do it so I submitted a support ticket, asking how. My host replied back that I don't get two dedicated IPs because I signed up for the hosting package before they offered the IPs with it.

Does that sound reasonable to you? It definitely irked me.

I can't just cancel my account and sign up for a new one to get the IPs because I have an awesome coupon, plus it would be a hassle. And I don't want to have to do that everytime they offer a new feature.

My host has been great except for this issue. I'm not ready to switch just yet, but I am keeping my eyes open for good deals with solid companies.

That's a tough call. Technically, your host is right because in the "contract" you agreed to when you signed up, you didn't get the IPs (assuming they're telling the truth, and I tend to believe they are.) And IPs are hard enough to come by as it is now.

However, if the host offers it, the ethical thing would, in my opinion, be to give you the two IPs.

You can pull a trick with this if you want and your host offers dedicated SSL hosting. Dedicated SSLs require a dedicated IP, so they have to give you one. I believe there are still SSLs available on free trial, but I don't remember where they are off the top of my head.