If you haven't done so already:
1) open a 401 K ($4M limit in 2005, can still make your 2004 contribution of $3000)
2) Pay off or pay down any consumer debt (car loans, student loans, credit cards)
3) Prepay your mortgage (if you own a house)
If all those are done, then invest a portion of it and enjoy a prtion of it.
Long term investments could be a contribution to a broad based mutual fund (VAnguard Index 500 although the new version of the primecap fund is also doing well), hedge fund, or annuity.
Congrats. Got a 12% raise and an $11,000 bonus.
I used the rasie same as my regular salary, but the bonus has been set aside for an new air conditioning system, summer vacation for the family-Virginia Beach for the week, and other non-recurring items.