Version of Android Studio (Beta) 0.8.4 OS version: Windows 8 Java JRE/JDK version: 1.8.0_11
Error occurred during initialization of VM
Could not reserve enough space for 1048576KB object heap Java HotSpot(TM) Client VM warning: ignoring option MaxPermSize=256m; support was removed in 8.0
The Solution Worked:
1.Open the projects gradle.properties file in android studio
2.Added this line at end of file org.gradle.jvmargs=-Xmx1024m & Save the file
3.Close & reopen the project or just Clean and re-Build it
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