I am unable to run Sony Vegas Pro Version 10

My Dell laptop runs on a 32-bit version of Windows XP. The other day, I tried to install Sony Vegas Pro Version 10 by downloading a free trial version to see if it can help me produce audio and video as well as play my Blu-Ray movies. The problem is when I try to run it, the following error message occurs. Can someone please help.

Vegas Pro 10.0
This software requires that you have Microsoft Windows XP Service Pack 3, Windows Vista Service Pack 2, or Windows 7 installed. Please update your operating system and try again.
