CRM2011 crmSvcUtil.exe Error: Metadata contains a reference that cannot be resolved

Hi,
I tried to execute the following
crmsvcutil.exe /url:https://server1/org1/XRMServices/2011/Organization.svc /out:sdk.cs /username:myusername /password:mypassword  /namespace:crm.Sdk

and received following error:

Exiting program with exception: Metadata contains a reference that cannot be res
olved: 'https://server1/org1/XRMServices/2011/Organization.svc?wsdl'.
Enable tracing and view the trace files for more information.
crmsvcutil.exe Error: 0 : Exiting program with exit code 2 due to exception : System.InvalidOperationException: Metadata contains a reference that cannot be resolved
 ---> System.Net.WebException: The operation has timed out

   at System.Net.HttpWebRequest.GetResponse()
   at System.ServiceModel.Description.MetadataExchangeClient.MetadataLocationRet
riever.DownloadMetadata(TimeoutHelper timeoutHelper)
   at System.ServiceModel.Description.MetadataExchangeClient.MetadataRetriever.R
etrieve(TimeoutHelper timeoutHelper)
   --- End of inner exception stack trace ---
   at System.ServiceModel.Description.MetadataExchangeClient.MetadataRetriever.R
etrieve(TimeoutHelper timeoutHelper)
   at System.ServiceModel.Description.MetadataExchangeClient.ResolveNext(Resolve
CallState resolveCallState)
   at System.ServiceModel.Description.MetadataExchangeClient.GetMetadata(Metadat
aRetriever retriever)
   at Microsoft.Xrm.Sdk.Client.ServiceMetadataUtility.RetrieveServiceEndpoints(T
ype contractType, Uri serviceUri)



What could be the possibilities?