Error during Profile Image upload

When I tried to upload a image of higher size(> 5MB) for my profile page, I got the below error. Although the file size is not acceptable, the page should not throw an error like this.

Fatal error: Allowed memory size of 67108864 bytes exhausted (tried to allocate 17280 bytes) in /home/iyaffle7/public_html/engine/lib/filestore.php on line 141

File: http://www.iyaffle.com/action/avatar/upload

Any thoughts on this? Am I missing something?

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