no, it is a 32 bit process so is limited to (in theory) 4 gigs if you are running on a 64 bit OS. In practice it will typically max out around 2 gigs (it's up to windows.)
However it's a bit of a moot question. It's unlikely that apps will require that sort of memory anyway - although ultimately it does limit how many threads can be running at any one point in time.
Cheers
Bruce