making a copy of your "Favorites" list

Hello Everyone,
I am wondering how you would make a copy of your "Favorites" list so you would have a backup copy. I am not talking about backing up your computer this time, just making a copy of your favorites list. Is it possible to do? Please let me know if you know how. Thanks.

To back up or transfer your Internet Explorer Favorites, select Import and Export… from IE's File menu. Choose Export Favorites and click on Next. Choose the main Favorites folder for the source folder and hit Next. Click on Export to a File or Address, select a filename to hold the Favorites list, click on Next, and then hit Finish. You now have an HTML file containing your Favorites, including submenus, in an outline form. You can store this on a disc for backup, copy it to another computer and import it, even launch the HTML file and click on the links directly