I found the following approach on StackOverflow but it seems too complicated: (http://stackoverflow.com/questions/10535548/best-way-to-clone-observables)
// extends observable objects intelligently
ko.utils.extendObservable = function ( target, source ) {
var prop, srcVal, tgtProp, srcProp,
isObservable = false;
for ( prop in source ) {
if ( !source.hasOwnProperty( prop ) ) {
continue;
}
if ( ko.isWriteableObservable( source[prop] ) ) {
isObservable = true;
srcVal = source[prop]();
} else if ( typeof ( source[prop] ) !== 'function' ) {
srcVal = source[prop];
}
if ( ko.isWriteableObservable( target[prop] ) ) {
target[prop]( srcVal );
} else if ( target[prop] === null || target[prop] === undefined ) {
target[prop] = isObservable ? ko.observable( srcVal ) : srcVal;
} else if ( typeof ( target[prop] ) !== 'function' ) {
target[prop] = srcVal;
}
isObservable = false;
}
};