Microsoft SQL Server Report Designer wizard Unable get IVSMDDesignerService (mscorlib)

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SSRS

BI

Hi,

I am unable to create a report from SSRS Report wizard

I am using SQL Server 2008 R2 Business Intelligence Studio to create a report via Report Wizard and I gone through the following steps while creating the report:

1. Click File-->new-->Projects-->Reporting Server Project Wizard and Click Ok Button
2. Create a new Datasource and click next
3. Build the sql statement and click next
4. Select the tabular report type and click next
5. Design the table from the avialable field according to the page,group and details as need and click next
6. Choose the Table type as Stepped and check the Enable Drill Down check and click next
7. Choose the table Style as Slate and click next
8. Chose the deployment location as Report Server is http://localhost/ReportServer and Deployment folder is Report_Project2 and click next
9. At the Completing wizard check the Preview report Check and click finish

When I click on finish button I get the following error:

This wizard will close because it encountered the following error:
ADDITIONAL INFORMATION:
Unable get IVSMDDesignerService (mscorli)

I have searched on the internet but found no sufficient information. Can anybody help please