Pocket size waterproof

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Recently I have been caught in several heavy showers whilst out on the bike, so I am looking for a waterproof that is small enough to stuff in a back pocket. Any recommendations? I don't want to spend too much.
 
Not 100% Waterproof but the Montane Featherlite folds to a bag the size of an apple and is a highly breathable jacket that doesn't cost the earth (so as to speak). Its my choice to wear with a gilet for really wet days. Montane do the H20, which I think is their waterproof version of the Featherlite.
 
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