Abstract : Thermally grown silicon oxide layer was implanted at room temperature with 300keV Xe at fluences ranging from 0.5 to 5x10$^16$Xe/cm$^2$. Bubbles created after Xe-implantation provided a low-k silicon oxide that has potential use as a dielectric material for interconnects in Si integrated circuits. Transmission Electron Microscopy (TEM), Rutherford Backscattering Spectrometry (RBS) and Positron Annihilation Spectroscopy (PAS) were used to provide a comprehensive characterization of defects (bubbles, vacancy, gas atoms and other types of defects) created by Xe implantation in $SiO_2$ layer. These measurements suggest that the bubbles observed with TEM for all fluences were a consequence of the interaction between Xe and vacancies (V), with $V_nXe_m$ complexes created in the zone where V and Xe profiles overlap. Negatively charged defects such as ($Si-O^-$, $Si-O-O^-$ and $O_2^-$) are also created after implantation.