Step 1.
Start Windows Explorer. Make sure that your system is configured to show all registered extensions.
Go to View > Options and check the appropriate settings.
Delete the file 'update.hta' in C:\Windows\Start Menu\Programs or
the file 'update' in C:\Windows\Menú Inicio\Programas.

Step 2.
Click Start > Run and type Regedit.

Step 3.
Follow the paths using regedit and find:
HKEY_LOCAL_MACHINE\Software\Microsoft\Windows\CurrentVersion\RegisteredOwner

and

HKEY_LOCAL_MACHINE\Software\Microsoft\Windows\CurrentVersion\RegisteredOrganization

Step 4.
In the right window, highlight the key and change it back to their proper values.

Step 5.
Follow the paths using regedit and find:
HKEY_LOCAL_MACHINE\Software\OUTLOOK.BubbleBoy

Step 6.
In the left window, highlight the key and delete it (Right click and choose Delete.)
Not removing this key will actually prevent the worm from propagating again.

Step 7.
Exit the Registry.

Step 8.
Click Start > Shutdown > Reboot.

Congratulations, VBS/Bubbleboy has now been removed from your system.