Flashing lights and scrambled jets

A friend and I were sitting on the back of his car. We were out in the country looking up at the stars. We saw a circular object with flashing lights move quickly across the sky. It was definititly not an aiplane. Then it stopped and moved straight down to the ground. We did not actually see it land. Then at least 3 jets zoomed across the sky. We knew that they had been scrambled to intercept the ufo. We were excited and thought that we could find it.  We drove around where we thought it might be, but it must have been farther away.