SMS backup seems to be here, courtesy of The Verge. It appears to use hotmail/outlook or XBox to sync and most feel that it is from Microsoft seeing our requests in the feedback section of official WP Team Blog and the post from the guys here at WPCentral asking us for user features. I'm very excited about this and look forward to getting a WP8 phone ASAP! Hopefully this gets included in WP 7.8 to get us moved to WP8 seamlessly.