Android Indigo : invalid command-line parameter

Android Emulator on Eclipse Indigo has an error like 
"invalid command-line parameter" :

 This post is about Eclipse Indigo Build id = 20110615-0604

[2011-08-04 18:13:32 - AndroidViews2] ------------------------------
[2011-08-04 18:13:32 - AndroidViews2] Android Launch!
[2011-08-04 18:13:32 - AndroidViews2] adb is running normally.
[2011-08-04 18:13:32 - AndroidViews2] Performing net.learn2develop.AndroidViews.ViewsActivity activity launch
[2011-08-04 18:13:32 - AndroidViews2] Automatic Target Mode: launching new emulator with compatible AVD 'avd_2.3'
[2011-08-04 18:13:32 - AndroidViews2] Launching a new emulator with Virtual Device 'avd_2.3'
[2011-08-04 18:13:37 - Emulator] invalid command-line parameter: Files\Android\android-sdk-windows\tools/emulator-arm.exe.
[2011-08-04 18:13:37 - Emulator] Hint: use '@foo' to launch a virtual device named 'foo'.
[2011-08-04 18:13:37 - Emulator] please use -help for more information


It seems that the error is caused by the SDK location path : 
C:\Program Files\Android\android-sdk-windows

This works on i386 : 
C:\Progra~1\Android\android-sdk-windows

After OK & Run : 

SDK location path on AMD64
C:\PROGRA~2\Android\android-sdk