In case someone is interested, Box.net has a limited time only (through Dec. 2, 2011) offer where you get 50Gb free cloud storage. The only catch is you need to download the
iPhone app and register through the app to be eligible for the extra storage (you don't have to use the app to upload your files though). Also, you can only upload files that are 100Mb or less each. Still, pretty sweet deal for anyone interested in backing up their photos online.
Cheers