I used to have a Microsoft Live website and I was not able to convert it to WordPress. This was two years ago so I am not sure if anything has changed.
When I decided to host my site on
Hostgator (affiliate) using WordPress, I asked my host to transfer my site from Live to self-hosting. This service cost $5 and it only required filling out a form on Hostgator.
Tech support told me it was not possible because Live was Microsoft's proprietary software and could not be transferred. I also Googled wondering if I could convert Live to WP but that was not possible either.
Again, I do not know if anything has changed at Live. I did not pay for Live hosting and only used the free program.
What I ended up doing was creating a WP site on
Hostgator and redoing the site. It needed updating anyway.
I would suggest that you use the Live forum to ask questions about transferring the website. I thought the forum was rather robust and easily searchable when I had questions.
If you plan to use a host, such as
Hostgator, I would ask them as well whether a Live website can be transferred by them. I find Hostgator support to be very good.
Janine