  We present the concept of a compact storage ring of less than 0.5 m orbit
radius to search for the electric dipole moment of the muon ($d_\mu$) by
adapting the "frozen spin" method. At existing muon facilities a statistics
limited sensitivity of $d_\mu \sim 5 \times 10^{-23} \ecm$ can be achieved
within one year of data taking. Reaching this precision would demonstrate the
viability of this novel technique to directly search for charged particle EDMs
and already test a number of Standard Model extensions. At a future, high-power
muon facility a statistical reach of $d_\mu \sim 5 \times 10^{-25} \ecm$ seems
realistic with this setup.
