Now Microsoft Enterprise Agreement customers can bring existing licenses to run SQL Server on Azure Virtual Machines. Since the launch of Azure Virtual Machines, customers can already run SQL Server on Azure Virtual Machines through several existing SQL Server images available in the Azure Gallery, or bring their own images to Azure.
These images and capabilities will continue to be supported so customers can continue to take advantage of pay per use licensing for SQL Server on Azure Virtual Machines.
Starting this week, customers with Enterprise Agreement who already have SQL Server Licenses, can use them on Azure Virtual Machines with Microsoft-certified (BYOL) gallery images. These images will not charge for SQL Server licensing, just for compute cost.
For more details see the Link.