Cubase 5.5 Importing Audio not working

I’m trying to import a long audio file, over 2 hours and around 120 MB. Every single time it stops at 66% in the converting file dialog box and just sort of doesn’t do anything. It’s always stopping at 66%. Any idea why this could be and how to fix it? My project settings allow for 10 hours max project time. I have enough space on my hard drives, my codecs are up to date.

I’m using Windows 7 64 bit and the 64 bit versions of Cubase 5.5