One way what i remember is Just setting the original value like $env:psmodulepath = "original Value"
$env:psmodulepath
C:\Documents and Settings\user\My Documents\WindowsPowerShell\Modules;C:\WINDOWS\system32\WindowsPowerShell\v1.0\Modules\
$env:PSModulePath = $env:PSModulePath + ";c:\ModulePath"
$env:psmodulepath
C:\Documents and Settingsuser\My Documents\WindowsPowerShell\Modules;C:\WINDOWS\system32\WindowsPowerShell\v1.0\Modules\;c:\ModulePath
$env:PSModulePath = "C:\Documents and Settings\adminam\My Documents\WindowsPowerShell\Modules;C:\WINDOWS\system32\WindowsPowerShell\v1.0\Modules\"
$env:psmodulepath
C:\Documents and Settings\adminam\My Documents\WindowsPowerShell\Modules;C:\WINDOWS\system32\WindowsPowerShell\v1.0\Modules\
Even if you want to keep the module path for the Current session only
$env:PSModulePath += ";c:\ModulePath"
http://msdn.microsoft.com/en-us/library/dd878326(v=vs.85).aspx