I stay up late and often go outside to view the night sky to contemplate and watch for meteoroids. This particular night I was looking north almost straight up and a bright red orb surrounded with a thin yellowish orange ring suddenly appeared. I was at a very high altitude and in respect to size was probably about the size of a small pill. It was moving somewhat slowly eastward at a downward arc/angle and then seemed to speed up as it moved across the sky. I estimate it was in view for maybe 30 secs. at the most before it suddenly diminished in size and disapeared. A rough estimate of the observed distance travelled is from a 12:00 to 2:30 position looking north at the sky.At first sight, I naturally thought airplane light, but this was too large for a plane light, had the yellowish orange ring around it, and was moving at an odd angle across the sky.