kegerator on screen in porch

After 2 years of brewing I've decided its time to keg. However, there really isn't anywhere in my house to put the kegerator. The only two locations that work are the basement, and the screened in porch out back. Now I'd much rather put in on the screened in porch than in the basement. The porch has power, and we cover the screens with plastic in the winter to keep most of the wind/rain/snow out.
So will a kegerator be okay out here? I've looked around online and there are outdoor kegerators that I see for around $1500, and that's way too much. If I go the route of building one from the Sanyo 4912, would that survive being outdoors? Has any one else tried doing this?

-Andrew

Mine (10 cu ft) started it's life in a carport and then got moved to an unheated garage. As long as it doesn't freeze on the porch, it will be fine. If freezing is a potential problem, you can put a small light bulb inside of the kegger. Some people have wrapped their faucets with a tape pipe heater.

You're just answering all my questions today. Thanks!