upgrading to 2.7.1

Trying to do an automatic upgrade but keep getting this message.
I haven’t got a clue what it means. Can it be rectified?

Downloading update from http://wordpress.org/wordpress-2.7.1.zip

Fatal error: Allowed memory size of 33554432 bytes exhausted (tried to allocate 1853087 bytes) in /home/longter2/public_html/moneyblog/wp-includes/http.php on line 1032

Hopefully I won’t have to delete this blog as it is the best one I have so far.