From 1 February 2016, Microsoft added a new Software Assurance Benefit, called Azure Hybrid Use Benefit (HUB). Customers with Windows Server licenses with SA can assign a Windows Server licence to an Azure virtual machine without Windows Server.
Datacenter Edition licences can be assigned to both on-premises AND Azure virtual machines, Standard Edition licences can be assigned to either on-premises OR Azure virtual machines.
A single Processor Licence allows you to use Windows Server on up to 16 cores in Azure.
General Availability: 17 February 2016