Pearl like sphere hovering and then covering miles in a few seconds.Our house is on Lake LBJ on the south side. I was sitting on my deck watching the lake activity and sky, looking north. A friend of mine was there as we had played golf that morning.I saw an object moving across the sky from west to east at a distance and speed consistent with conventional aircraft I see regularly. I watched the object for about 15 seconds when it stopped, then began moving again for a couple of seconds, then stopped, dropped in altitude and stopped again.I stepped inside and got my binoculars. My friend had gone inside to get a drink at the same time. I held the binoculars against the porch column to steady the view. The object looked like a pearl in shape and color. The sky was blue with wispy white clouds behind the object. It appeared to be moving closer as it got larger and clearer.I had been watching it for three to four minutes when my friend came back on to the deck. The object had not moved other than to appear closer. I pointed it out and asked him to look through the binoculars and give me his opinion. In the time it took me to step around the porch column and my friend to raise the binoculars, approximately three seconds, the object disappeared. It took us about five seconds to relocate it in the sky about two miles to the east and getting smaller in appearance through the binoculars until it disappeared into the clouds.