UPDATE: As of 03/09, I have found no way to integrate my live spaces account with Google Adsense. Microsoft’s system here seems to prevent all of the technical mechanisms that Google provides would-be adsense hosters. I tend to believe this is mainly a side effect of the security they’ve built into live spaces, not a direct effort to disable Adsense.
This is not a SharePoint post, but might be of interest to bloggers generally.
Someone commented on their Windows Live Spaces blog that Google affirmatively denied their application to participate in AdSense. She theorized that Google denied her because Windows Live Spaces hosts her blog. However, I was recently accepted into the program for my live spaces blog, so the policy has either changed or Google denied her for some other reason.
Of course, I don’t see any obvious way to integrate Google AdSense into my live space, but it’s a start 🙂