Outlook.com (formerly hotmail.com) is gong through their public beta currently, and now is the time that you should think about reserving your email alias. This of course goes on the assumption that you want to create an alias with outlook.com.
Step 1 – Account tools
You need to click on the cog looking icon on your toolbar at the top right of your window, then on the “More Mail Settings” link:
Step 2 – Managing your account
In the “Managing your account” section, select “Create a Outlook alias”
Step 3 – Create your alias
All that’s left for you to do is to enter in your alias, and domain name (outlook.com; hotmail.com or live.com)
That’s pretty much it.