We were headed to my house in Taylor and were traveling east on highway 60. I noticed it as we left Show Low. It appeared to be a blue star with white lights pulsating around the middle of it. The driver, my friend commented on it some five miles down the road from Show Low. I said I thought it was Venus but it looks blue and about half the size. My friend asked if it could be a plane approaching the Show Low airport and I said I noticed it when we left and it has remained motionless. He said there are white light around the middle they could be landing lights. I said why would a plane be blue? As we approached the turn at Bourdon Ranch rd. It shot off at about two thousand miles per hour. It ascended rapidly into the sky and disappeared. I'm guessing on elevation and and distance but I would say it was over Concho and at a elevation of twenty-five to thirty thousand feet.