It would be nice, but as far as I know it's not an option with the Sun provided JVMs.
The Xmx option is to specify maximum memory, it's there to prevent the JVM from consuming the entire machine's free memory. If you want to set it higher, it won't require the JVM allocate all of that memory. Why not just set it to a very high number and let the JVM grow into it over time?
To make sure your JVM doesn't start off with too little memory (creating lots of pauses as it grows the memory to the required size), adjust Xms to the size you want to allocate for the JVM at startup.
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