The server should handle being an IRC server with no problems. I'm not as certain about the server'* network connection. IRC servers tend to be bandwidth hogs. I'll run some numbers and see what I come up with.
I have to talk to my provider first but I have the space and the formatting is already set up. If you want we could look into doing it. I am changing my site format to a lighter and better store. The great omnipotent one of this site if interested might want to drop me a note so he can let me know exactly what is needed.