Issue setting IP address for VM

I am getting the error below even after confirming that IP address is available

PS C:\> Get-AzureVM -ServiceName XXXXX -Name BESAPP | Set-AzureStaticVNetIP -IPAddress 10.0.0.10 | Update-AzureVM
VERBOSE: 8:16:26 a.m. - Completed Operation: Get Deployment
VERBOSE: 8:16:28 a.m. - Completed Operation: Get Deployment
VERBOSE: 8:16:28 a.m. - Begin Operation: Update-AzureVM
Update-AzureVM : BadRequest: The value for parameter 'SubnetNames' is null or empty.
At line:1 char:93
+ ... ss 10.0.0.10 | Update-AzureVM
+                    ~~~~~~~~~~~~~~
    + CategoryInfo          : CloseError: (:) [Update-AzureVM], CloudException
    + FullyQualifiedErrorId : Microsoft.WindowsAzure.Commands.ServiceManagement.IaaS.UpdateAzureVMCommand