Round light that changed to a small blinking light after rising up into the sky.

It was early evening on November 18, 2023 and my wife and I were sitting in our living room watching the news. Our leather sofa sits perpendicular to our ten-foot living room window which is on the north side of the house facing the US/Canada border. There is quite often activity along the border with drones and helicopters doing whatever it is they are supposed to do so we seldom pay much attention.
However, that evening as we sat watching, my attention was drawn to a round bright light slightly higher than the tree line on my neighbor’s property about a half mile away. At first we thought it could be a helicopter but the light was larger than any we’ve seen before and it was pointed straight at our direction not searching the ground. We watched it for several minutes, musing between each other that maybe it was an airplane. But, then logic kicking in and we could not understand how a plane intending to land at a nearby airport (there is one in Abbottsford and one in Bellingham but neither are that close to us), would be holding such a low and, seemingly, fixed position.
Finally, with curiosity getting the best of me, I got off the couch and walked to the window to get a better view. As soon as I made the window, with my wife still watching from the couch, the large round light began to retreat away from me, as it were, and the light grew smaller and smaller. It took maybe five seconds for it to become very small and then it took a 90 degree turn upwards and continued rising behind some misty clouds until it came to a stop and took the form of a red and white blinking light. It remained stationary in the sky and we shut the curtains.