Unknown Error when Launching

[Graynizmo]

when i attempt to launch my VM (win XP) i get the following error message

Failed to open a session for the virtual machine Old Gateway.

No error info.

Result Code: E_FAIL (0x80004005)
Component: ProgressProxy
Interface: IProgress {c20238e4-3221-4d3f-8891-81ce92d9f913}

Can anyone provide a fix or this or point me in the right direction? Thanks in advance.