You can just knit the pattern flat, using the circular needles. They're made for flat knitting too!
But if you're eager to do something circular, you could knit the front and back together as one circular tube, from the bottom, up to the armholes, and then seperate them and follow the directions as given, with two separate halves. I've done that before; it's a nice compromise. The only potential complication is gauge. Gauge is often different when knit in the round, than knit flat (because you may purl at different tension than you knit, and with circular, you don't incorporate that purl stitch). So you may have to adapt the pattern for your two gauges.
Have fun with your new set!
KnittingHelp Queen Bee
"There is a vitality, a life force, an energy, a quickening that is translated through you into action, and because there is only one of you in all of time, this expression is unique. And if you block it, it will never exist through any other medium and it will be lost. The world will not have it. It is not your business to determine how good it is nor how valuable nor how it compares with other expressions. It is your business to keep it yours clearly and directly, to keep the channel open. You do not even have to believe in yourself or your work. You have to keep yourself open and aware to the urges that motivate you. Keep the channel open."
— Martha Graham