Draw a circle with text as its border

[MauricioRamirez1]

I have a location that I'm placing on a map.  I'm drawing a circle around it show the size of the area covered.  Is there a way to make the edge of the circle display the size say 500 meters.  I'm trying to do this in 10.2.7, but I'm going to need to do it in 100.6 as well.

[dotMorten_esri]

Could you place a second graphic with a TextSymbol next to the circle? You could set the graphic location to just be the top of the extent of the circle, and middle of the sides.

[MauricioRamirez1]

That might be the best way to do it. I've never made the text rounded like

that. Any examples you can throw my way would be great.

Thanks