I am not exactly sure how your network is set up, but having your server hosted is always an option. Many large businesses have their own servers, but many outsource them. Our hospital is in Maine, but our servers are in Kansas.
The servers they would be running would be Enterprise Servers such as Windows Server 2008 or Linux. If you were using their servers, I don't see how you would be able to use SBS 2008. It just wouldn't make sense and is limited to 75 users. Small Business Server is just that, a server intended for small businesses. Once, you get out of that realm, which you would with a corporation hosting your servers, then SBS wouldn't be an option if they wanted your data on their machines.
I don't know what is more boring. Being a compliance officer or having a network with no server to manage.
