lj2654,
I'm wondering, what caused the "slit" in the first place? A possible defect in the pipe that was installed after the muffler? Does it look like damage of some sort or something that else? Anyway, a picture would be nice if you could, if not, not the end of the world. But, depending on what the circumstances are, why it happened, is it traveling? Getting larger? etc. I'd weld it. Yeah, it would take you a bit of time to disconnect the negatives of the batteries in prep but, that's a permanent fix for it. You're guaranteed that it will not get any worse and, in fact, will be repaired.
There are possible epoxies out there that might withstand the heat and sever vibration and, maybe it's worth an experiment or two. Good luck.
Scott