The game might launch, but even at the lowest settings it's likely to be a slideshow. Intel integrated graphics are horrible for running modern games, even games that are easy to run. GTA IV is a horrible port that requires pretty strong hardware to get decent performance, it is not easy to run. Since this is a laptop there is no possibility for a graphics upgrade. I wouldn't bother trying to play GTA IV on that computer, it's not going to end well.
If you want to even attempt gaming on that laptop, upgrade to 4GB of RAM. 2GB isn't enough when Windows will eat up 1GB on its own. Your integrated graphics also eat into your RAM, leaving too little RAM for the games themselves to run.