Speech Recognition fails to start up

Hello
I have Vista Business Edition. I have used Speech Recognition once. A few
days and a few Windows Update patches later, it refuses to start. THis is
what it says:

-----------------------------------------------------
[Window Title]
D:\Windows\Speech\Common\sapisvr.exe

[Content]
Windows cannot find 'D:\Windows\Speech\Common\sapisvr.exe'. Make sure you
typed the name correctly, and then try again.

[OK]
-----------------------------------------------------

I know that the exe exists. If I start the cmd
'D:\Windows\Speech\Common\sapisvr.exe -SpeechUX', it gives the same error.
And %ErrorLevel% in cmd prompt is 9059.

I am not sure if I am able to diagnose the problem. There is eventlog entry.
If I run it under windbg I am not able to (as it needs elevated priviledges)

Any idea what could be wrong here?