running out of memory during linking of many native libs

I am getting the below error when linking. Our project links in many native libs (about 500 megs total for the lipo'ed arm and x86 versions) Any ideas on how to resolve this? I can remove one of the large libs and get it to link (with symbol not found errors of course) so it looks like it really is running out of memory somewhere...

Unhandled Exception:
        OutOfMemoryException
        [ERROR] FATAL UNHANDLED EXCEPTION: System.OutOfMemoryException: Out of memory
          at (wrapper managed-to-native) object:__icall_wrapper_mono_gc_alloc_vector (intptr,intptr,intptr)
          at (wrapper alloc) object:AllocVector (intptr,intptr)
          at IKVM.Reflection.Writer.ByteBuffer.Grow (Int32 minGrow) [0x00000] in <filename unknown>:0 
          at IKVM.Reflection.Writer.ByteBuffer.Write (System.IO.Stream stream) [0x00000] in <filename unknown>:0 
          at IKVM.Reflection.Emit.ModuleBuilder.DefineManifestResource (System.String name, System.IO.Stream stream, ResourceAttributes attribute) [0x00000] in <filename unknown>:0 
          at Mono.CSharp.AssemblyDefinition.EmbedResources () [0x00000] in <filename unknown>:0 
          at Mono.CSharp.Driver.Compile () [0x00000] in <filename unknown>:0 
          at Mono.CSharp.Driver.Main (System.String[] args) [0x00000] in <filename unknown>:0 
/Library/Frameworks/Mono.framework/Versions/3.2.5/lib/mono/4.0/Microsoft.CSharp.Targets: error : Compiler crashed with code: 1.
    Task "Csc" execution -- FAILED