This took some time for me to find as it was deeply embedded in the windows help files anyway i have an answer for you but you must follow the directions very carefully to get this to work.
To create a custom monitoring console
Open Microsoft Management Console (MMC).
On the Console menu, click Add/Remove Snap-in.
On the Standalone tab, click Add.
In the snap-in list, click ActiveX Control, and then click Add.
In the Insert ActiveX Control wizard, click Next.
There is a short delay before the next dialog box appears; this is normal.
In Control category, click All Categories.
In Control Type, click System Monitor Control.
Click Next.
The System Monitor control provides the functionality of System Monitor.
In Select a name for the ActiveX control, type a name for the control, and then click Finish.
Note
To open MMC, click Start, click Run, and then type mmc.
Creating a custom console is useful if you want to have System Monitor hosted in the same console with Event Viewer or another tool.