  We present a stationary generalization of the static $q-$metric, the simplest
generalization of the Schwarzschild solution that contains a quadrupole
parameter. It possesses three independent parameters that are related to the
mass, quadrupole moment and angular momentum. We investigate the geometric and
physical properties of this exact solution of Einstein's vacuum equations, and
show that it can be used to describe the exterior gravitational field of
rotating, axially symmetric, compact objects.
