There are several causes:
You have not previously install sp2 which is a must before sp3
Incorrectly configured, outdated, or corrupted device drivers. (very usual)
Corruption of the Windows Registry following a recent software change, related to Windows (installation or uninstallation).
Virus or malicious program that corrupted the Windows file or program files associated with Windows Operating System.
Conflict between drivers after installing new hardware.
System files that are corrupted or deleted after you install software or drivers associated with the Windows Operating System.
Blue screen Error 0x69 caused by a damaged hard drive.
Stop error IO1_INITIALIZATION_FAILED due to memory corruption (RAM).
The blue screen errors IO1_INITIALIZATION_FAILED can be caused by various hardware, firmware, drivers, or software problems.
The first step is to repair repair Registry Entries Associated with Error 0x69
Manually editing the Windows registry to remove invalid IO1_INITIALIZATION_FAILED keys is not recommended, unless you are a computer services professional. Editing your registry incorrectly can prevent your computer from running and causing irreversible damage to the operating system. In fact, a misplaced comma can completely prevent your computer from booting up!
If you wish more guidance, let us know.