I have a single core processor, 1 gig of ram, and a very modest graphics card and I have FSX running quite nice. So, yes... your setup should run FSX. What graphics card do you have? That would be the real question.
i'm not sure, i dont think i have one, where can i check?
Go to start and press 'Run' (Or on vista type this into the white box at the very bottom of the start bar)
Type in
dxdiagThis runs the DirectX Diagnostic, which basically gives you system information.
Probably on the second tab at the top of this pop-up will have Display or some such. Here it will tell you the model and make of the graphics card or chipset you have.
I am guessing you have a laptop from the processor so I have doubts about the game running very well.