System specs required to run gta 4

Hello,
can gta 4 run smoothly on my system....

System specs:
windows xp media center edition 2005 with sp3
INTEL PENTIUM D dual core 2.8ghz
2GB DDR2 667 ram
SEAGATE 160GB SATA HD
XFX RADEON HD 4650 GDDR2 1GB

I recently installed GTA 4 on my system and its running too damn slow.I ran the game's in built benchmarking tool and the results that came out were horrible, its giving average frames per second of about 6.8 or 7 and that too playing with the lowest resolution with all settings and effects at low. The benchmarking results are showing 93% CPU usage and 69% sytem memory usage.

Will upgrading processor and ram solve the problem?

Awaiting quick response..

Thanks
Brian