1.Get the PyQt4 wheel from http://www.lfd.uci.edu/~gohlke/pythonlibs/#pyqt4. Make sure that the version is exactly the same as your Python version (i.e. Python 3.3 doesn't work with PyQT for Python 3.4). Also make sure to download the 64bit version if you are on a 64bit machine and vice versa.
2.Extract the wheel with 7zip
3.Rename the PyQt4-4.11.4.data (or similar) directory to PyQt4
4.Go to PyQt4purelibPyQt4 and move everything to the root PyQt4 folder. You can delete the purelib folder now
5.Copy the whole PyQt4 folder to your Python interpreters 'site-packages' folder (e.g. C:Python34Libsite-packages)
6.Go to PyQt4dataLibsite-packages and move all the files to C:Python34Libsite-packages