Growing Amazon EBS Volume sizes

I'm quite impressed with Amazon's EC2 and EBS services. I wanted to know if it is possible to grow an EBS Volume.

For example: If I have a 50 GB volume and I start to run out of space, can I bump it up to 100 GB when required?

Solution

All great recommendations, and I thought I'd add this article I found, which relates to expanding a Windows Amazon EC2 EBS instance using the Amazon Web UI tools to perform the necessary changes. If you're not comfortable using CLI, this will make your upgrade much easier.

http://www.tekgoblin.com/2012/08/27/aws-guides-how-to-resize-a-ec2-windows-ebs-volume/

Thanks to TekGoblin for posting this article.