there's a VALUES command hanging out there, and the column names should not be in single quotes;

create table PendingIO (

[database] varchar (100),

Physical_name varchar (100),

io_pending int,

io_pending_ms_ticks int,

io_type varchar (20),

num_of_reads int,

num_of_writes int,

time_stamp datetime default getdate())

INSERT INTO PendingIO ( [database],Physical_name,io_pending,io_pending_ms_ticks,io_type,num_of_reads,num_of_writes)

SELECT

DB_NAME(mf.database_id) AS [Database],

mf.physical_name,

r.io_pending,

r.io_pending_ms_ticks,

r.io_type,

fs.num_of_reads,

fs.num_of_writes

FROM sys.dm_io_pending_io_requests AS r

INNER JOIN sys.DM_IO_VIRTUAL_FILE_STATS(NULL, NULL) AS fs

ON r.io_handle = fs.file_handle

INNER JOIN sys.master_files AS mf

ON fs.database_id = mf.database_id

AND fs.file_id = mf.file_id

ORDER BY

r.io_pending,

r.io_pending_ms_ticks DESC;