SQL Server 2008R2 Reporting Services Failed to start after GDR security patch KB 2716440.

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Symptoms After Applying the Microsoft (October 2012) patches/Updates, SQL reporting services wasn't able to start and the below error is displayed when you try to start the service:
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Cause

One of the Updates released on that date is KB 2716440 http://support.microsoft.com/kb/2716440  which resolves a vulnerability in SQL server.

Resolution This issue could occur because of a missing registry key and a common solution to this problem is to add this key as follows:
  1. Open Regedit on the problematic server.
  2. Navigate to the following registry key: HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control
  3. In the Right Pane create the following Key (If not already created)
    1. Value: DWORD (32-bit)
    2. Name: ServicesPipeTimeout
    3. Value Data, Click Decimal and type 60000 (No less than 60000 is recommended)
  4. Reboot the server
After reboot the SQL Server, Reporting services should start normally without any problems.
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