Once you have the new provisioning profile you can add it to your device by doing the following:
- Add the provisioning profile to iTunes, by dragging the file into iTunes, into the Library group (the section containing Music, Movies, TV Shows, Applications, etc). This is also how you will add our beta builds or any ad-hoc distribution apps to iTunes.
- Connect your device to your computer and Sync your device using iTunes.
On the iPhone you can see the provisioning profiles installed on the device by going to Settings -> General -> Profile. You can have more than one provisioning profile active on your device. You can also remove a profile whenever you feel like it. Remove it from the device or from iTunes. If you do remove the profile that a beta application needs the application will not run on your device.