osCommerce Migration Tool For Magento Installation Failure

I tried to install osCommerce Migration Tool for Magento today and I encountered the following error.

Failed to download magento-core/Mage_Oscommerce within preferred state “stable”, latest release is version 1.0.19700, stability “beta”, use “channel://connect.magentocommerce.com/core/Mage_Oscommerce-1.0.19700” to install
Cannot initialize ‘channel://connect.magentocommerce.com/core/Mage_Oscommerce’, invalid or missing package file
Install Errors
Package “channel://connect.magentocommerce.com/core/Mage_Oscommerce” is not valid
PEAR ERROR: install failed 

To resolve this issue you can simply click on the setting tab on top, and then change the Preferred State: to Beta.