Yes,
That's my cylinder in that picture and there were cracks everywhere. I had it welded and replated. A professional shop can repair almost anything you throw at them. The shop I use have fixed prices for this.
The total cost is something in the regions of ?100 (~$150) depending on the shop. ?20 for welding, ?80 for plating. You will spend the same money again on a new piston, add some extra for gaskets and stuff and you are looking at ~ ?300 (~$450) for a complete rebuild.
The cylinder (design) tends to crack quite easily (where marked above). Fortunately, the repairs are not that expensive.
If you do not put a lot of stress on the machine, this repair should last longer than the oil reserves of the world...
I don?t know how much a sleeve would cost you, but consider that plating is far superior technology.
//John