PowerShell "Exception of type 'System.OutOfMemoryException'"

In middle of a script execution, Got the below error:
The following exception was thrown when trying to enumerate the collection: "Exception of type 'System.OutOfMemoryException' was thrown.".
At d:\Scripts\VersionRpt.ps1:19 char:16
+         foreach <<<<  ($FileVersion in $File.Versions)
    + CategoryInfo          : NotSpecified: (:) [], ExtendedTypeSystemException
    + FullyQualifiedErrorId : ExceptionInGetEnumerator

Solution:
Increase the PowerShell console memory! Here is how:

C:\

CD wsman:

#Get the current setting
Get-Item localhost\shell\maxmemoryperShellMB

#Increase the memory
Set-Item localhost\shell\MaxmemoryPerShellMB 2048

BTW, You can also try disposing unused objects in PowerShell. Here, we got this exception due to the large number number of version.