It is hard to find details how to cancel Office Live Small Business service and transfter domain out.
Here is a real process,
1. Filling the cancellation form online at
https://support.officelive.live.com/eform.aspx?productKey=officelivesmbuscancel&ct=eformts
2. Wait up to 48 hours, you will get a domain registration key by email.
3. Following the instructions in the mail to create a new account at http://www.melbourneit.com.au/cc/godirect/