Sounds like you don't have enough memory, how much is on the Server? More than your page file?
Also could mean Sql Server has "paged out" meaning Windows decided to swap all the info it stored in memory onto the disk.
Open Perfmon ( Goto a command prompt, and type perfmon ) and add these counters:
- SQLServer:Buffer Manager - Buffer cache hit ratio
- SQLServer:Buffer Manager - Page life expectancy
- SQLServer:Memory Manager - Memory Grants Pending
If Buffer Cache Hit Ratio is < 95% it means Sql is using the disk instead of memory a lot you need more memory.
If your page life expectancy is < 500 it mean SqlServer is not keeping results cached in memory, you need more memory.
If you have a lot of Memory Grants Pending, you need more memory.
There are also two stats which let you know how much memory SqlServer wants and how much its actually using. They are called something like "Total Memory Used" and "Total Memory Requested". If Requested > Used, guess what, you need more memory.
There are also some dmv's you can use to determine if your queries are being held up while waiting for memory to free up. I think its sys_dmv.os_wait_stats, something like that.
I community wikied this so a real dba can come in here and clean this up. Don't know the stats off the top of my head.