Microsoft has rolled out the beta version of Office Live. You can subscribe for free to the three beta versions of Office Live: Office Live Basics, Office Live Collaboration and Office Live Essentials.
Here's a description of Office Live Basics:
Create your own professional Web site in minutes! Microsoft Office Live Basics is the perfect way to get started on the Web. It features all the basics you need to create your first Web site, including free hosting, Web site statistics, personalized domain name, and e-mail addresses.
You've always wanted your own Web site. Microsoft has just made it easier. Much easier.