SkyDrive offering free upgrade to existing users
Recently Microsoft has updated their SkyDrive cloud storage solution, however with this update they also reduced storage to 7 GB. Existing SkyDrive can upgrade 'back' to their 25 GB free storage by visiting their account manage page. Please note you must have used the service before this upgrade to qualify, see this page for more details.
It is worth pointing out that even the reduced 7 GB beats Google Drive and Apple iCloud by 2 GB and DropBox by 5 GB. More information can be found on the official SkyDrive compare page.
Further more one can upgrade up to 100 GB of storage $50.00/year making it a feasible cheaper alternative to cloud backup/archive offered by S3 Amazon Storage. This task can be accomplished by setting up FUSE (Filesystem in Userspace) which is a post for another day.