Official Response from NASA - click link to watch -http://www.youtube.com/watch?v=82l46fpd-ic

"http://www.thesuntoday.org - 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. " - C. Alex Young Ph.D.

Thanks to http://www.thesuntoday.org, NASA, ESA, SDO, SOHO, STEREO, Helioviewer, and virtuallinda.com