Barry Bonds' obstruction of justice conviction has been reversed by the 9th U.S. Circuit Court of Appeals, which ruled his meandering answer before a grand jury in 2003 was not material to the government's investigation into steroids distribution.

Bonds was convicted in 2011 of a single count of obstruction by a jury, which deadlocked on three charges he made false statements during his grand jury appearance.

The government could ask the 11-judge panel to reconsider Wednesday's decision or could request that all 29 judges on the 9th Circuit rehear the case. The full court has never sat on a case since it began using the "limited en banc" panels in 1980.

Prosecutors also could petition the U.S. Supreme Court to review the decision.