The access to the windows azure portal will still be available for you. At the time you registered for MSDN, you must have provided your credit card information. So, unless you have removed the alert for informing when you have exceeded your free trial spending CAP, you won't be charged for it till then.
When your windows azure subscription will expire, you'll have to pay to keep the data still there. If you do not remove the data, and the subscription is not paid for, the data will itself get deleted in another 90 days.
So, to retain it you'll have to renew your subscription with Windows Azure separately. But it need not expire along with your MSDN account.
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