Email Subscription Problem

I have an install of Reporting Services which when trying to send an email based subscription, returns the following error;

Failure sending mail: Retrieving the COM class factory for component with CLSID {CD000001-8B95-11D1-82DB-00C04FB1625D} failed due to the following error: 80040154.

No errors are shown in the RS logs or the events logs.

Does anybody have any ideas what could be causing this?

I don't know what version you are using but when it first came out it was hard for most people to install it but I did not get a hard time because I ignored all Windows questions. So I remember it asking for Exchange server you will use with it, if you did not configure Exchange, SMTP or SQL Server Agent to use for your mail that could be the reason for the error. Hope this helps.|||Thanks for your reply. I've double-checked all the configuration and everything appears fine. :(sql