We present a systematic study of accelerating cosmologies obtained from M/string theory compactifications of hyperbolic spaces with time-varying volume. A set of vacuum solutions where the internal space is a product of hyperbolic manifolds is found to give qualitatively the same accelerating four-dimensional FLRW universe behavior as a single hyperbolic space. We also examine the possibility that our universe is a hyperbolic space and provide exact Milne type solutions, as well as intersecting S-brane solutions. When both the usual 4D spacetime and the m-dimensional internal space are hyperbolic, we find eternally accelerating cosmologies for m geq 7, with and without form field backgrounds. In particular, the effective potential for a magnetic field background in the large 3 dimensions is positive definite with a local minimum and thus enhances the eternal acceleration.