Backing up MS Win Updates?

Here's a question I've been wondering about for awhile and haven't been able to find the answer.

Is there a way to backup the Windows updates onto a CD to install later?

Say if you wipe your hard drive and reinstall Windows from a recovery disk and then want to install all the updates, but don't want to wait for it to download all of them from the MS site since you only have a Dial-up Connection.