On March 12, 2012 Sunsflare posted a video asking if anyone could identify a circular object seen in SDO coronal images. The video was also posted on Facebook with the same question posed. I answered the question on facebook but here is a more detailed response and discussion of the observation. The object seen is a coronal cavity associated with a filament. There was also an eruption of the filament with a CME.
Here is the original video from Sunsflare:
Then the update video:
Finally, I put together this more detailed response to discuss the observation.
Thanks to NASA, ESA, SDO, SOHO, STEREO, Helioviewer, virtuallinda.com and Sunsflare!