Is it possible to share contacts between Windows Live and Outlook?

I do not want to integrate my Hotmail account within Outlook using the
Office Connector, as suggested by Microsoft. All I want is to run Windows
Live for my Hotmail personal email account only and Outlook for my business
email account only, using just one Address Book. If I update an address in
Outlook, I would like Windows Live to be able to immediately use that
address, and vice versa.

I currently use Outlook Express for my current Hotmail account. Up to now,
I have been able to use the same address book using the registry fix where
Outlook Express uses the Outlook Address Book. How can I continue that
functionality after I am forced to switch from Outlook Express to Windows
Live?

Thanks