We report on a variability study of X-ray sources in the starburst gal
axy M82, based on ROSAT and Einstein High-Resolution Imager observatio
ns. In particular, we concentrate our analysis on two bright sources w
hich exhibit significant variability. The brightest source in M82 is l
ocated in the central core of the galaxy, is variable within individua
l ROSAT observations, and indication are that it might have varied bet
ween the Einstein and the ROSAT observations. It is the most luminous
X-ray binary candidate yet known. The other source is located outside
the crowded central region and was very bright in the Einstein observa
tion, but was not detected by ROSAT, despite the larger effective area
of the instrument and the much longer exposure. The detection of vari
ability poses strong constraints on the X-ray luminosity of individual
components of the X-ray sources. Even if both sources are radiating a
t the Eddington limit, their mass would be at least several M., making
them candidates for extragalactic black holes.