Now this is a clever idea!! I don't know how many times I have chased my pincushion around the table.
Make a pattern; For length,measure the machine's circumference in a spot free of dials, then add 2 1/2 inches. Choose a width that suits the machine(about 2-3 inches) and add 1/2 inch
Layer a piece of thick fabric(for the backing)and a piece of cotton or velour over two pieces of thin batting,all cut to fit dimensions.
See along three sides, leaving 1/4 inch seam allowance. Turn right side out, and top stitch around all four sides, 1/4 inch from edge
Sew strips of Velcro brand tape to ends on opposite sides.