Hi Questor.
There are some splitters around that allow you to do this, tend to be more expensive, and dramatically drain the resources of your graphics card. Here is an example of one:
Matrox DualHead2Go: $169.95
In my opinion, your much better purchasing a video card that can handle and supports dual VGA. Most NVidia cards these days come with both a VGA and DVI port.
TrustedReviews - nVidia GeForce 6600 GT - Preview
All of this is also dependant on what you are doing with the card. I think the first option is definately out of the window if you use your PC for gaming for example.
EDIT: Sorry upgrader, didn't realise you posted.