Extrasport makes a very nice paddle jacket. I've had mine for over a year and it still looks quite new. Very little fading, and blood stains wash out pretty well. I've also looked at the ones that Hobie makes, they also look to be just as good of quality.
Check out Fastlane Sailing Center or oex, they've got them...
http://www.kayakfishingsupplies.com/...-Paddle/Detail