There are multiple reports of this issue especially on 64-bit PC's which previously had a 32-bit install of icloud. but Control Panel had not record of 32-bit icloud being installed. I solved this problem as follows:
(1) back up your registry and write down the backup file name and folder location.
Editing the registry can destroy normal access to Windows, so follow this procedure carefully only if you are certain you are qualified to edit the registry.
(2) using regeit (as an administrator), search using all options (keys, values, data) for the term "icloud". Use F3 to find each references & count them.
(3) If you find any reference to a folder location for icloud inside Programs(x86), indicating an uninstalled 32-bit version of icloud, then proceed with deletions, otherwise this solution may not work for you.
(4) Delete each entry for which you find "icloud". I found about 9 of them. Your registry search may vary.
(5) Continue deletions until no more references are found.
(6) reboot
(7) reinstall your icloud64.msi file (double click it or select an install option from the right click on the icloud64.msi file, and this time it should install smoothly.