A new approach to Vulnerability, Uncertainty and Probability (VUP) quantification procedure using Stochastic Petri Nets within a network of interacting satellites is presented. A Stochastic Petri Net based model is developed to quantify VUP in a network of interacting satellites. Three indicators are proposed to determine the VUP definitions in interacting network of satellites. The proposed VUP quantification scheme addresses a methodology which employs a Stochastic Petri Net for quantitative analysis of the behavior of the network. With the random variables associated with the Petri Net transitions, the dynamic behavior of the cooperating satellites in a SPN model can be mapped onto a time-continuous Markov chain with discrete state space. After generating a Markov Stochastic Petri Net model, the probability of a given condition in the network at a specified time can be computed and quantified as well as the vulnerability and uncertainty of the system using the identified indicators.