Based on the work of www.github.com/melanke

ICRoundedImageView.java

import android.annotation.SuppressLint;
import android.content.Context;
import android.graphics.Bitmap;
import android.graphics.Bitmap.Config;
import android.graphics.Canvas;
import android.graphics.Color;
import android.graphics.Paint;
import android.graphics.PorterDuff.Mode;
import android.graphics.PorterDuffXfermode;
import android.graphics.Rect;
import android.graphics.drawable.BitmapDrawable;
import android.graphics.drawable.Drawable;
import android.util.AttributeSet;
import android.widget.ImageView;

/**
 * 
 * @author NSCabezon
 *
 */
public class ICRoundedImageView extends ImageView {

	public static int margin = 20;

	public ICRoundedImageView(Context context) {
		super(context);
	}

	public ICRoundedImageView(Context context, AttributeSet attrs) {
		super(context, attrs);
	}

	public ICRoundedImageView(Context context, AttributeSet attrs, int defStyle) {
		super(context, attrs, defStyle);
	}

	@Override
	protected void onDraw(Canvas canvas) {
		Drawable drawable = getDrawable();

		if (drawable == null || getWidth() == 0 || getHeight() == 0)
			return;

		Bitmap b =  ((BitmapDrawable)drawable).getBitmap() ;
		Bitmap bitmap = b.copy(Bitmap.Config.ARGB_8888, true);

		int w = getHeight() < getWidth() ? getHeight() : getWidth();

		Bitmap roundBitmap =  getCroppedBitmap(bitmap, w);

		if (margin != 0) {
			final Paint paint = new Paint();
			paint.setAntiAlias(true);
			paint.setFilterBitmap(true);
			paint.setDither(true);
			paint.setColor(Color.parseColor("#ffffffff"));
			canvas.drawCircle(getWidth()/2, getHeight()/2, w/2, paint);
		}

		canvas.drawBitmap(roundBitmap, (Math.abs(getHeight() - getWidth()))/2, 0, null);
	}


	public static Bitmap getCroppedBitmap(Bitmap bmp, int radius) {
		Bitmap sbmp;

		if (bmp.getWidth() >= bmp.getHeight())
			sbmp = Bitmap.createBitmap(
					bmp, 
					bmp.getWidth()/2 - bmp.getHeight()/2,
					0,
					bmp.getHeight(),
					bmp.getHeight());
		else
			sbmp = Bitmap.createBitmap(
					bmp, 
					0,
					bmp.getHeight()/2 - bmp.getWidth()/2,
					bmp.getWidth(),
					bmp.getWidth());


		Bitmap output = Bitmap.createBitmap(radius, radius, Config.ARGB_8888);
		Canvas canvas = new Canvas(output);

		final Paint paint = new Paint();

		final Rect rect = new Rect(0, 0, sbmp.getWidth(), sbmp.getHeight());

		paint.setAntiAlias(true);
		paint.setFilterBitmap(true);
		paint.setDither(true);
		canvas.drawARGB(0, 0, 0, 0);
		paint.setColor(Color.parseColor("#ffffffff"));
		canvas.drawCircle(
				(sbmp.getWidth() / 2),
				(sbmp.getHeight() / 2),
				(sbmp.getWidth() / 2) - margin/2,
				paint);
		paint.setXfermode(new PorterDuffXfermode(Mode.SRC_IN));
		canvas.drawBitmap(sbmp, rect, rect, paint);

		return output;
	}
}