this post shows the concepts behing the error
Apply the same technique to SOAP UI
There is not enough virtual memory space requested by an application thus the application fails to start. This usually happens during the application startup phase. Applications reserve a large amount of virtual memory for the JVM heap space during the startup phase. Java on Windows uses an initial size of 16 Megabyte and a maximum of 64 Megabyte.
Most of the time you can fix this problem by uninstalling the Java runtime and then reinstalling it all over again. You can also try increasing the amount of system memory allocated to the Java virtual machine by setting an environment variable.
Open the Control Panel
Go to System
Go to Advanced Systems Properties
Then Environment Variables
In System Variables, click Add
New Variable Name: _JAVA_OPTIONS
New Variable Value: -Xmx512M
Click OK
