bsod+graphic card failure?? Help!!

hey guys, my com went kapoot recently and I urgently need help. I was working on it when suddenly the screen went all wavery and blurry so I shut it down. I booted it again once more and it was okay, but the next day the same thing occurred from startup. Basically the colours can be seen and all, but its to blurred to make out the words. It continues to the window startup screen then the monitor loses signal. After a while a bleach screen appears but its too blurred to make out the words. Below are the specs of my com:

Intel pentium 4 processor 515,
2.39ghz, 1mb L2 cache, 533 MHz
1.75 gb ddr ram
80gb 7200rpm hard drive
radeon x1300/1500 series

Need help urgently to find out the cause of problem. Thanks so so much.