Hey schweitzer,
Thanks for posting in Microsoft answers!
The error message you receive is related to low Virtual memory. You may have to increase the virtual memory on your computer.
Virtual memory combines your computer’s RAM with temporary space on your hard disk. When RAM runs low, virtual memory moves data from RAM to a space called a paging file. Moving data to and from the paging file frees up RAM so your computer can complete its work.
Refer the link below for details on virtual memory:
What is virtual memory?http://windows.microsoft.com/en-US/windows7/What-is-virtual-memory
If you receive error messages that warn of low virtual memory, you need to either add more RAM or increase the size of your paging file so that you can run the programs on your computer. Windows usually manages this automatically, but you can manually change the size of virtual memory if the default size isn't large enough for your needs. For more information, refer the link below and fo9llw the steps mentioned in the article to increase the size of the paging file:
Change the Size of virtual memoryhttp://windows.microsoft.com/en-us/windows7/Change-the-size-of-virtual-memory
This error message may occur if Windows tries to create a paging file on an NTFS volume, but the System and Administrators accounts do not have the correct NTFS permissions on the volume.
You may also refer the link below and follow the steps mentioned in the KB article:
http://support.microsoft.com/kb/315270
The above link is for Windows XP, but the same may be carried out for Windows 7 as well.
Hope this helps!
Gokul – Microsoft Support