The database version (C.0.8.40) does not match your reporting services installation. You must upgrade your reporting services database Error

I installed reporting services over an already existing SQL Server 2005 instance. While configuring the reporting services i received the following errors while attempting to configure the Database setup.

The database version (C.0.8.40) does not match your reporting servicesinstallation.  You must upgrade your reporting services database

The resolution for that error was simple. I had to install the SQL Server 2005 Service Pack 2 although it was already installed because it has to run after the reporting service istance is installed.