How do I create a backup for Calendar in case of emergency?

I thought it might be wise to create a backup of all my Windows Live Calendar items but having done a quick search on the internet for a solution, it doesn't seem as if there is a straight forward solution to this question.  The best solution I found was that I could create a .ics file as a backup which could then be brought into Outlook if that emergency situation arose.  As I don't have Outlook, couldn't this .ics file be used in something else, like Google Calendar for instance?  Or is the .ics file only compatible with Microsoft products?