The Cache moved to the storage card did not work for me.

So I just decreased the cache size of IE.

HKEY_CURRENT_USER\Software\Windows\Internet Settings\5.0\Cache

Content
Cookies
History

I moved my Content to 4096.

-MadMax

EDIT: The following post is a registry tweak to store the Pocket Internet Explorer data on your Mini-SD card instead of the internal storage. It currently results in a PocketIE error where it crashes and closes immediately after loading a page. Clearing the data using the options in PocketIE solves the problem temporarily.