Backup hard drive not working with lion!! Help!!!

[Jae Hokes]

So i just installed lion and tried to back it up and plug my Iomega hard drive in and it says "Time Machine could not complete the back up" and then "the backup disk is not available" any ideas!? Anyone else goimg thrpugh this

 

[jawoui]

I'm having the same problem! mine is a 500Gb IOMEGA hard drive. It slows down my whole computer (4gb ram white macbook) when i try to open my music files on iTunes. And it won't back up in time machine :/, anyone??