I've seen this a couple times. The full error message is "SMS SRS web service is not running on SRS Reporting point server "xxxxxxxxxx". However, the SRS is working fine, delivering reports, etc etc. So why does this error still happen?
This is a bug that was supposed to be fixed in ConfigMgr SP2. I have seen this error occur on SP2 sites, so not sure if that fix didn't make it into SP2 or some other issue is going on. Will need to research further. But, in the mean time, if you want to keep the Reporting Point component green in the console (and doesn't everybody) then you can create status filter rule. Use Source of ConfigMgr Server, use Component of SMS_SRS_Reporting_Point and MessageID of 7403. Also disable write to ConfigMgr db and enable "do not forward to status summarizers" and "do not process lower priority status filter rule".