We have analyzed the time variability of the wide-band X-ray spectrum of Vela X-1, the brightest wind-fed accreting neutron star, on a short timescale of 2 ks by using {it Suzaku} observations with an exposure of 100 ks. During the observation, the object showed strong variability including several flares and so-called low states, in which the X-ray luminosity decreases by an order of magnitude. Although the spectral hardness increases with the X-ray luminosity, the majority of the recorded flares do not show any significant changes of circumstellar absorption. However, a sign of heavy absorption was registered immediately before one short flare that showed a significant spectral hardening. In the low states, the flux level is modulated with the pulsar spin period, indicating that even at this state the accretion flow reaches the close proximity of the neutron star. Phenomenologically, the broad-band X-ray spectra, which are integrated over the entire spin phase, are well represented by the NPEX function (a combination of negative and positive power laws with an exponential cutoff by a common folding energy) with a cyclotron resonance scattering feature at 50 keV. Fitting of the data allowed us to infer a correlation between the photon index and X-ray luminosity. Finally, the circumstellar absorption shows a gradual increase in the orbital phase interval 0.25--0.3, which can be interpreted as an impact of a bow shock imposed by the motion of the compact object in the supersonic stellar wind.
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