Windows Live Documents are now live

At the Professional Developers Conference on Tuesday, Microsoft has announced that Office apps Word, Excel, and PowerPoint are going online. This will not affect the traditional versions.

Browser-based Word, Excel, and PowerPoint offered via Microsoft's Office Live Web site, while businesses will be able to offer browser-based Office capabilities through Microsoft's SharePoint Server product.

The company has not revealed its entire pricing strategy, although representatives note that the current Office Live has both free, ad-supported options as well as subscription services. 

You can access the service from its offical page at http://workspace.office.live.com using your Windows Live account.