In this paper, we study a time-domain spherical cloaking model recently introduced by
Zhao and Hao (2009). This model is quite complicated and is composed of four coupled
differential equations. Here we first prove the existence and uniqueness of a solution for
this model. Then we obtain a stability result, which analysis is quite involved due to the
coupling between the four variables. To our best knowledge, this is the first well-posedness
study carried out for the time-domain cloaking model with metamaterials.