Error when backing up database on SQL Server 2008

1153215 pts.
Tags:
Backup
SQL Server 2008
My friend and I are trying to backup a database that's located on localhost/SQL Express but we keep getting this error:
Backup failed for Server 'localhostSqlExpress'.  (Microsoft.SqlServer.SmoExtended)

For help, click: http://go.microsoft.com/fwlink?ProdName=Microsoft+SQL+Server&ProdVer=10.0.2531.0+((Katmai_PCU_Main).090329-1045+)&EvtSrc=Microsoft.SqlServer.Management.Smo.ExceptionTemplates.FailedOperationExceptionText&EvtID=Backup+Server&LinkId=20476

ADDITIONAL INFORMATION:

System.Data.SqlClient.SqlError: Cannot open backup device 'C:backup.bak'. Operating system error 5(failed to retrieve text for this error. Reason: 15105). (Microsoft.SqlServer.Smo)

For help, click: http://go.microsoft.com/fwlink?ProdName=Microsoft+SQL+Server&ProdVer=10.0.2531
Has anyone seen this before? If so, what should we do?
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