This aircraft has a double identity: on November 23, 1994 it was registered by the FAA as N50ST, owners being Cirrus AND Israviation, hence the aircraft is also known as Cirrus ST-50. The concept of this low-cost business aircraft came from Stephane Juffa, who formed Israviation, and was based on the Cirrus VK-30. Both companies collaborated on design and development, Cirrus building the proof of concept prototype.

The first flight was made by Norman E. Howell from Duluth, Minnesota, on December 7, 1994. The aircraft was stricken from the US Register on May 4, 1995 and ferried to Israel where it was registered as 4X-COD. It attended the Paris Air Show as item 388 in 1997 but the aircraft was not taken in series production.