Ableton has announced a free upgrade to Live Lite 5 Enhanced Edition for current Live Lite Digidesign Edition and all Ableton Live Lite M-Audio versions.
Live Lite 5 Enhanced Edition offers many features found in Live 5, including Plug-in Delay Compensation, MIDI remote control, full ReWire support, high-definition recording and rendering (up to 32-bit), Mackie Control support, Track Freeze, and the “Complex” warp mode for high-fidelity, on-the-fly time stretching.
Live Lite and Live Delta M-Audio users can download the free upgrade:
http://www.ableton.com/free-m-audio-upgrade
Live Lite Digidesign users can download the free upgrade here: