Custom ground cutter in a mill.
First pass, end mill the slot, then go after it with the custom cutter to get the round shape. Treat it like you're milling t-slots into a table, but with a round profile.
Alternatively, if you absolutely have to use a drill, or can't get a custom cutter... I'd start with a larger block that encompasses the hole size completely, get a decent gun drill, drill the hole, then mill the block to size, opening the hole up.
You don't specify tolerances, quantities, etc, so it's hard to give one answer.
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NX8.0, Solidworks 2014, AutoCAD, Enovia V5