Corporate email - "IT-staff-full-employment-act otherwise known as Outlook" as Paul Kedrosky describes it - will soon be available as a utility from Google.
Many outsourcing vendors offer to support Exchange (and related virus, spam protection) on an outsourced basis. Some have even moved to support it from remote offshore locations. But few will be able to match the scale or pricing of the Google utility....if we can resolve privacy issues (as Paul discusses), and manage outages (which have plagued SaaS vendors).