It has been made available the Azure version of the Microsoft TFS (Team Foundation Services), also known as TFS Services preview. You can create a free account with a live account and use it in your projects. For the time beeing it is free. I don’t have an idea of the business model of this offer, so don’t crussify me if it changes from free to something else .
Acess it at http://www.tfspreview.com
BTW, I’m already using it with several projects and my feeling for it is that it is great! Source control is stable. Remaining available features are quite stable. Other features should be released over time.