Though, the above technique works for the general case, it didn't work on Amazon Web Services (AWS) PEM files.
I did find in the AWS docs the following command works:
ssh-keygen -y
http://docs.aws.amazon.com/AWSEC2/latest/UserGuide/ec2-key-pairs.html
edit Thanks @makenova for the complete line:
ssh-keygen -y -f key.pem > key.pub