 
1. Create a Sphere on the Top viewport with the following settings:

2. Convert the Sphere to an Editable Poly:

3. Go to Edge sub-object level and cut the following edges:

4. Select the following edges, and press CTRL-Backspace to delete the edges (holding CTRL deletes the vertexes as well).

5. Switch to Vertex sub-object level and select the vertexes as shown in the image below, and scale them down on the Y-axis to bring them closer together.

6. Select the two vertexes as shown in the image below, and scale them up on the Y-axis to move them further apart.

7. Switch to the Left viewport and select the 4 vertexes as shown below, and move them upwards.

8. Select the TurboSmooth or MeshSmooth modifier from the Modifier List and set the Iterations to 2.

I enabled Isoline display for the TurboSmooth modifier, but that’s not required.
9. Switch to Vertex sub-object level again and move the center top vertex up just a bit.
\
10. Turn show end results on. This will allow you to see if the ball will become round in the next steps. Select the 21 vertexes as shown in the image below:

|