Hmm. No, I dont think so.. Unless the developer of the tablet gives an update.. But from 2.x to 4.0 is too far I think.. Since the latter version demands a better hardware specs.. Some devices are not compatible with ICS.. But, I if you insist, I think there is a way to upgrade it to 4.0 if you root it. Maybe.
What memory? RAM? ROM? But whatever it is, I also do not think it is possible to upgrade the memory of 8.9. You can't upgrade the RAM, and you also cannot expand the 8.9 memory with a micro SD. So you stuck with the device's initial memory.