Multi-colored flashing lights around a stationary orb

My friend called me to report two bright "stars" in the sky flashing multi-colored lights. He gave me the approximate location so I went outside with my phone and binoculars and saw the larger orb.  I could see the flashing lights with my naked eye - green, red, white, blue. When I used my binoculars, they were very bright and clear, like an LED light, not blurry, and flashing in a rotating pattern around a glowing orb. I live near a flight line and witnessed several planes pass by.  This was not a plane.  It hovered in the same spot for about fifteen minutes and then began to slowly drift south.  Not fast.  I could barely tell it was moving. At one point it disappeared then reappeared within a few seconds.  As it drifted south, the flashing lights lessened in intensity.  I could only see them with binoculars at that point as the light seemed to be getting a bit smaller and looked more like a bright star to the naked eye. I brought my husband outside to w! itness the phenomena.  He is ex military and said it was not a plane or helicopter.  There was no sound. I took a video with my phone.  Granted, it's not the greatest and the orb looks small but you can still see the flashing lights.  I'm not sure what it was.  I've tried to debunk but honestly, I can't come up with an answer.  At one point on the video, I describe it as resembling a flashing Christmas tree full of multi-colored lights. What impressed me most was the brilliance of the lights.  It may not be anything but I wanted to report it since it was so unusual.
Probable sighting of Sirius.  PD