Microsoft have announced changes to Windows Live SkyDrive, introducing paid tiers of storage and reducing the free offering down to 7GB. Existing users can (for a limited time) login and hit a button to keep the 25GB that you currently have, for free.
Go and do that now: skydrive.live.com
Once you’ve done that, you might want to download the long-awated SkyDrive client applications that have been released for Mac and PC.