Great news!
Microsoft have now made it possible to protect your Virtual Machines running on a Hyper-V server with Windows Server 2012 R2 by replicating them to Azure. In the past, this was only available for larger organizations that had access to System Center Virtual Machine Manager. Now, SMBs can take advantage of this service out of the box from Hyper-V without the need to purchase the SCVMM components.
Here is the link to the documentation on how to set this up – http://azure.microsoft.com/en-us/documentation/articles/hyper-v-recovery-manager-hypervsite/