hi Larry,
The cover I have doesn't have cutout for stand and is made of very thin elastic nylon (btw. it doesn't smell). It really serves as dust/finger protection only.
I quite like the one you show on Amazon as it seems to be of better material (depending on which you choose). But I'm not sure how good it fits on SX700/900, because the stand on SX is not on the very edge (as shown on Amazon picture).
Bogdan