We study the settling of solid particles in a viscous incompressible fluid contained within a two-dimensional channel, where the mass density of the particles is greater than that of the fluid. The fluid-structure interaction problem is simulated numerically using the immersed boundary method, where the added mass is incorporated using a Boussinesq approximation. Simulations are performed with a single circular particle, and also with two particles in various initial configurations. The terminal particle settling velocity and drag coefficient correspond closely with other theoretical, experimental and numerical results, and the particle trajectories reproduce the expected behavior qualitatively. In particular, simulations of a pair of interacting particles similar drafting-kissing-tumbling dynamics to that observed in other experimental and numerical studies.