Possibly a supporting MS runtime library problem. Or could be a corrupt installation.
Is the file actually in the location mentioned in the error message? It is probably quicker to reinstall Sonar without doing an uninstallation first. If your problem is a corrupt or missing file that will replace all installed files.

Do that first. Then let us know how you go.

Hi Folks,
 
Thanks for the tips. I did a disk scan followed by a virus scan, the virus scan only showed up a couple of non-critical issues which have been fixed. I re-installed the software without uninstalling first. I have not tested to see if every feature or soft synth is functioning as before, but so far everything seems fine. One weird thing though, the windows administrator image appears at the bottom right of the Sonar icon in taskbar, not sure why but looks weird.  I will continue to monitor things, if anything odd happens will keep you guys posted. Thanks for the help once again, appreciate it.

It almost sounds like your Windows system was corrupted. You might try the windows file check:
sfc /scannow
 
That will attempt to repair any Windows files that have been corrupted. If nothing is corrupted, the sfc will finish reporting it didn't do anything. If it did fix things, you should have access back. Was the X2 installed as 64 bit or 32 bit? Windows 7 shouldn't have trouble with either. And X2 should be a perfectly fine app to run in Windows 7 64 bit.