Yes, there are so many methods. What I'm doing: Try using the Live SDk in your application by including it from http://msdn.microsoft.com/en-us/library/live/hh826532 , and the link also contains enough code to get you started.
You can get contact information from there automatically and you can use the Roaming repository to store information or use any cloud storage if you want to update it based on multiple users.
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