Error when generating BIAR file using Import Export utility XI 3.1

When trying to generate the BIAR file, getting attached error

"Error logging on to server. Check logon information and try again (IWZ 0001) failed to create JVM,

tried to Google it and found it that it could be relate to registry setting  for import wizard.

Following is my computer registry setting

MaxMemMB = 512

MinemMB = 64

I trued with increase size from 512 to 1024 but still same error.

I tried my logon on different machine and successfully created the BIAR file, so looks like my machine issue but need help how to resolve this.

The BIAR file size is around  3 MB.

Thanks,

Syed