Smallest possible hip bag for E-pl2
this might work:
technically a chest carrier but it can easily work as a hip pack. there is a slightly bigger one too, Inifinity.
You may want to consider looking at lens cases instead of camera bags. I use a Think Tank Whip it Out for my e-pl2 when I have a pancake lens mounted. When I need to carry more gear, the Whip It Out gets the 40-150 (or soon the 60mm macro if Santa is good to me) while the camera and a couple of lenses go in small shoulder bag.