PHP 5.5

Hey there. I am running virtualmin 4.0.6 on a Centos 6.5 x64 vps. I want to install php 5.5 as it adds many great features and i am myself a developer.

There is a guide found here:
on how to install php 5.5 on my system but i am worried something might go wrong if i substitute php 5.3(which i have now installed) with 5.5 as that guide suggests. Is there a way to have them both and pick the one i want in each virtual server?

I tried installing it to be honest but i got the following Error: php55w-common conflicts with php-common-5.3.3-27.el6_5.x86_64

I’m no web server genius so i thought i’d ask before i do anything stupid.