Ask a couple of friends to help hold the drywall in place over the arched window. Reach your arm up into the space between the window glass and the sheet of drywall. Mark the outline of the window arch with a pencil. Have your helpers lower the drywall to the floor.
Transfer the sheet of drywall to a pair of sawhorses. Center the traced shape of your arch on the drywall in between your sawhorses, placing the weight of the drywall sheet evenly over the sawhorses.
Use a spiral saw to cut out the traced shape of the arch. Start on the bottom of one side of your arch and follow the curved line with the saw blade. Remove the cut arch from the sheet of drywall.
Use drywall screws to attach the cut drywall to the area over your window, lining up the arch in the drywall with the arch along the top of the frame. Check the shape of the drywall arch for conformity. Remove any small imperfections that extend beyond the desired shape with a jab knife. Smooth the arch with a file to create an even and continuous curve along the top of your window.