Using Distributed Queries

I am trying to use OpenRowSet to import XLS file into Database in SQL 2008 and I got the following error -

The OLE DB provider "Microsoft.Jet.OLEDB.4.0" has not been registered.

Here is my queries -

SELECT * INTO dbo.Table1
FROM OPENROWSET('Microsoft.Jet.OLEDB.4.0','Excel
8.0;DataSource=C:\TEST.xls','SELECT * FROM [sheet1$]')

I am using 64bit Windows 2003 and SQL Server 64bit version... According from the Microsoft, Jet Driver is only runs on 32 bit version. Is that correct?
Do we have any other work around to make it work?

Thanks.