VaultPress will back up WP.org install blogs to a remote cloud server. The VaultPress core engine will be able to update blogs with hot-fixes.
VaultPress continuously monitors and stores updates to your blogs and sites. Write, edit, and upload with confidence that everything you’re doing is being protected at the same time.
WordPress are planning to charge about $20 a month for the VaultPress premium service.
There is a Beta version to preview VaultPress before it’s available to the general public at: http://vaultpress.com/signup/
More Info: http://vaultpress.com/