ScottGu's Blog - Windows Azure: Backup Services Release, Hyper-V Recovery Manager, VM Enhancements, Enhanced Enterprise Management Support
"Windows Azure Backup is a cloud based backup solution for Windows Server which allows files and folders to be backed up and recovered from the cloud, and provides off-site protection against data loss. The service provides IT administrators and developers with the option to back up and protect critical data in an easily recoverable way from any location with no upfront hardware cost."