Cant Launch

Minecraft Crash Report ----
// Ouch. That hurt 😞

Time: 10/8/14 4:03 PM
Description: Initializing game

java.lang.OutOfMemoryError: Initializing game
at sun.misc.Unsafe.allocateMemory(Native Method)
at java.nio.DirectByteBuffer.<init>(Unknown Source)
at java.nio.ByteBuffer.allocateDirect(Unknown Source)
at org.lwjgl.BufferUtils.createByteBuffer(BufferUtils.java:60)
at org.lwjgl.BufferUtils.createIntBuffer(BufferUtils.java:90)
at cuj.a(SourceFile:401)
at cua.b(SourceFile:238)
at cua.a(SourceFile:77)
at cxh.j(SourceFile:553)
at cxh.a(SourceFile:139)
at cxk.a(SourceFile:23)
at cvt.a(SourceFile:99)
at bsu.aj(SourceFile:437)
at bsu.a(SourceFile:299)
at net.minecraft.client.main.Main.main(SourceFile:120)

A detailed walkthrough of the error, its code path and all known details is as follows:
---------------------------------------------------------------------------------------

– Head –
Stacktrace:
at sun.misc.Unsafe.allocateMemory(Native Method)
at java.nio.DirectByteBuffer.<init>(Unknown Source)
at java.nio.ByteBuffer.allocateDirect(Unknown Source)
at org.lwjgl.BufferUtils.createByteBuffer(BufferUtils.java:60)
at org.lwjgl.BufferUtils.createIntBuffer(BufferUtils.java:90)
at cuj.a(SourceFile:401)
at cua.b(SourceFile:238)
at cua.a(SourceFile:77)
at cxh.j(SourceFile:553)
at cxh.a(SourceFile:139)
at cxk.a(SourceFile:23)
at cvt.a(SourceFile:99)
at bsu.aj(SourceFile:437)

– Initialization –
Details:
Stacktrace:
at bsu.a(SourceFile:299)
at net.minecraft.client.main.Main.main(SourceFile:120)

– System Details –
Details:
Minecraft Version: 1.8
Operating System: Windows 7 (x86) version 6.1
Java Version: 1.7.0_67, Oracle Corporation
Java VM Version: Java HotSpot(TM) Client VM (mixed mode), Oracle Corporation
Memory: 64085456 bytes (61 MB) / 523501568 bytes (499 MB) up to 523501568 bytes (499 MB)
JVM Flags: 6 total; -XX:HeapDumpPath=MojangTricksIntelDriversForPerformance_javaw.exe_minecraft.exe.heapdump -Xmx512M -XX:+UseConcMarkSweepGC -XX:+CMSIncrementalMode -XX:-UseAdaptiveSizePolicy -Xmn128M
IntCache: cache: 0, tcache: 0, allocated: 0, tallocated: 0
Launched Version: 1.8
LWJGL: 2.9.1
OpenGL: GeForce GT 650M/PCIe/SSE2 GL version 4.2.0, NVIDIA Corporation
GL Caps: Using GL 1.3 multitexturing.
Using GL 1.3 texture combiners.
Using framebuffer objects because OpenGL 3.0 is supported and separate blending is supported.
Shaders are available because OpenGL 2.1 is supported.
VBOs are available because OpenGL 1.5 is supported.

Using VBOs: No
Is Modded: Probably not. Jar signature remains and client brand is untouched.
Type: Client (map_client.txt)
Resource Packs: [faithful64pack-v1.4.0.zip]
Current Language: English (US)
Profiler Position: N/A (disabled)