Alpha Lyrae is Vega, the fifth-brightest star in the heavens at a visual magnitude of 0.03.

Vega is very high in the skies around the first of July. It makes what is termed The Summer Triangle with Deneb (Cygnus) and Altair (Aquila).

Vega is found in an interesting region, with three nearby binary systems suitable for binoculars.
     Delta¹ and delta² Lyrae is an optical binary only, but with a fine colour contrast, a blue-ish star (5.8) and a red variable (magnitude range from 4.2 to about 6.5).
     Epsilon¹ and epsilon² Lyrae is a splendid quadruple system, the famous ‘Double Double’. The two brightest members are easily split with binoculars (or even with the naked eye if one has very sharp eyes): 5, 5; position angle 173º and separation 208". Small telescopes bring out the other two members, making it one of the finest binary sights.
     Zeta¹ and zeta²Lyrae also form a binocular binary, with magnitudes of 4.3 and 5.7, position angle 150º and separation 43.7".

Finally, you might try to find the bright red star known as T Lyrae, just to the southwest of alpha in the same field of view.
     T Lyrae is an irregular variable, with a range from about 7.5 to 9.4. You'll know if you spot it by its brilliant shade of red.