We consider the 2-spin spherical Sherrington-Kirkpatrick model whose disorder is given bya deformed Wigner matrix of the form W+lambda V, whereWis a Wigner matrix and Vis arandom diagonal matrix with i.i.d. entries. Assuming that the density function of the entries of V decays faster than a certain rate near the edges of its spectrum, we prove the sharp phasetransition of the limiting free energy and its fluctuation. In the high temperature regime, the fluctuation of the free energy converges in distribution to a Gaussian distribution, where as it converges to a Weibull distribution in the low temperature regime. We also prove several results for deformed Wigner matrices, including a local law for the resolvent entries, a central limit theorem of the linear spectral statistics, and a theorem on the rigidity of eigenvalues