http://www.youtube.com/watch?v=XHjIhzbo8QE
video explonation
1] new document 500X500 px

2] select elliptical marquee tool, then hold shift and draw a circle

3] create a new layer and fill it with baby blue color

4] goto select>modify>contract by 5

5] create a new layer and select gradient tool
6] make the gradient from the the baby blue color (the one you used before) to a navy blue color
7] fill the selection from up to down

8] create a new layer, select the elliptical marquee tool and while pressing alt, deselect most of the circle, just leave a smilly like selection on the botom

9] than goto select>feather by 15

10] fill the feathered selection with sky blue color

11] create a new layer and use the elliptical marquee tool to make a oval on the top part of the orb

12] select the gradient tool and fill the selection with white to transperent

13] set the opacity to 90% and add a filter>blur>gaussian blur
to 0.5

14] delete the background

15] good luck
tell me wht u think