instruments

Hi Guys, just got Ableton suite after using Live 6 i thought id check out the full monty. my question is can i put the instruments and their library's on an external hardrive as my main drives are getting pretty full.

I have Ableton Suite as well.
My library is on an external hardrive.

When as I started Live for the first time, it asked me where I wanted to put my library.

cheers. many thanks