Having visited several sports and outdoor stores, I failed to find a small (less than 10cm (4") long and less than 5cm (2") across) and cheap waterproof container. The ones that came the closest were intended for credit cards, but they looked pretty brittle and their waterproofness seemed less than dependable, considering the flimsy clip with which they closed. The shop owner of one of the shops that sold it also recommeded adding an elastic band around the clip, just in case. Considering the price of an Olympus xD card with 2GB of storage as well as the price of an Olympus Li42b battery (together they add up to well over 100 euro, which also makes it more than 100US$ :-) ) I wasn't going to trust on that container to keep several memory cards and a couple of batteries absolutely dry.
In those outdoor stores they also sell small bottles with screwable top for storing jam and so on. Unfortunately they were too narrow to get the battery in and too tall to store in my PFD.
The typical diving shop waterproof containers look like something that you keep dangling from your gear, they are big, round yellow two part containers that screw together to form something that looks like it would work well as a buoy! :-)
Alas, too big for my taste!
I looked all over the internet for a small container, having already ruled out the little 35mm film containers (despite good experiences with the transparant film containers from Fuji with my old filmcamera) because they tend to pop open when pressure is applied on the side.
I looked at lab supplies, hoping for 30 to 50ml containers with screwable top. I looked at small food storage boxes (rubbermaid and tupperware sell small boxes), but the smallest ones were still four or five times the size I needed, and the lids were not as dependable as I wanted them to be.
Next stop was the military hardware stores. At first I was looking for waterproof matchboxes, but they turned out to be too narrow. Then I looked at the Zippo brand containers used to carry a Zippo lightr on an airplane. Too big and too expensive!
By now I was getting pretty desperate. I asked around on a couple of kayaking forums, but most people there suggested waterproof bags. The last thing I wanted was something that wouldn't protect the contents against impact. On top of that the waterproof bags are just too big to fit in my pocket. I visited geo-cache sites to see what they use as a waterproof container for their hobby. Many things were suggested, but none in the size I wanted.
Next stop was a pharmacy. I asked for the small waterproof pill boxes, they were too small for the batteries. Then they looked into waterproof medicine bottles. None was wide enough, or they were too long. Screw top bottles for cremes were not available... :-(
So I walked into a make up store, being intent on getting a wide but flat container with whatever creme or powder they sold, as long as it had a screw top (like the plastic nivea containers). The pretty girl behind the counter was enthousiastic when she heard my demands, and then started unwrapping all kinds of boxes to check for the size of containers. The other female customers soon joined in the search, started pointing and commenting on what might work and what definitely wasn't waterproof. After about 15 minutes and many open boxes, I was none the wiser.
I still had planned a visit to the hardware store, where I accidentally walked through the pipe and tube department. Suddenly I saw what might work. A small piece of threaded PVC pipe, complete with screw on top. The accompanying cap lay in the next compartment. Another customer gave me a weird look when I opened my camera and used the battery to check for the size. There were several sizes of pipe, but I found the 40mm pipe (35mm inside diameter) to be what I was looking for.