dear,
i have been encountering same problem. this svc host process.exe is seemingly trigerd by installing the microsoft dot net frame work 1.1. although it is required to install many programs but it is the BIG REASON for this message & many other problems i.e., after this messege the task bar resizes itself and internet is inaccessable, many operations are held and so on.

not even microsoft hotfix for this particularly svchost.exe work.
my suggestion is to uninstall this frame work, and reboot.
after reboot this message may come again but don't worry. cz this is due to privious windows settings.
now reboot for 2nd time and you will be free of worries.
Note: no other frame causes this problem only microsoft .net 1.1 is responsible for this.
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i didn't installed any antivirus, no malware no nothing
after uninstalling the startup userlogo will go away, which appears after the win XP LOGO after start up, either you have to click it.
it will be direct access to desktop,
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i hope you get me what i m trying to say
now many geeks are over there along with many gurus.
it's a hint for them to get this problem really solved