The Team Foundation Server has a cloud-based (of course it runs on Azure), subscription-based version, called Team Foundation Service. Because this service is currently in preview, you can register for free on http://tfspreview.com. For this price you got not only a source control, but all the nice features of TFS.
I use this service since the first internal preview release, and I really like it. It takes no time to start my browser and create a brand new team project, and in 1 minute it’s ready and you can connect to it. I use it even for 1-person projects, because I believe in this online service more than an SVN installed onto my own computer. So I think the message below is quite correct.