SSIS Pacakge Error:'Deferred Prepare Could Not Be Completed'

Hello,
I am trying to use the Import export wizard to created a package,
using the provide source query option. If i just copy the query from a text file
and try to paste , sql only accepts it partially. so i saved it as a sql file
and then opened it in the window. However, when i click on 'next' or 'parse' , i
get the below error.

TITLE: SQL Server Import and Export Wizard

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The statement could not be parsed.

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ADDITIONAL INFORMATION:
Deferred
prepare could not be completed.
Query timeout expired (Microsoft SQL Native Client)


The query is pretty big, but it executes successfully in the Management Studion Query Explorer window. I had no problem creating a package using DTS with the same query in Sql 2000. I also tried to migrate the package already existing in Sql 2000, but even though i can migrate it successfully , the package does not execute in Sql 2005. Also i tried other queries which are as big as this one, again the query source window during import/export does not seem to accept large queries??? I depend heavily on large queries for my packages, which i run daily. I have not had any issues with this is sql 2000. Can someone help me with this???

Thanks in advance.

Ram