Ginger Grant has a great idea:
PolyBase, which was released with SQL Server 2016, provides another method to access live data either locally or in the cloud, very similar to the SQL Server Stretch database feature. Polybase can also provide the ability to provide a more cost-effective availability for cold data, streamlines on-premises data maintenance, and keeps data secure even during migration. Polybase differs from Stretch database in a few ways, as the SQL must be different, the speed is noticeably slower, and it is a lot less expensive. The cost is significantly less because storing data in a Azure blob store starts at 1 cent a month and Stretch database starts at $2.50 an hour. In this post,I will show how to take data which was archived due to the age of the data, which was created in 2012 and store it in an Azure Blob Storage file which will be available via Polybase when I needed.
The ideal scenario for this solution is extremely cold data which is nonetheless required as part of regulatory compliance, where having a query run for 3 hours once every six months or so is acceptable.