First let me say that I think Jiraiya is going to come back as Pein's new summoning body. Then after Tsunade examines the Pein body Ma toad brings her, she'll know how to free Jiraiya from Pein's control.
...Let me explain. I was wondering why Pein's "piercings" appear to look like bolts extending from the body, then we see one of Pein's "piercings" that he stabbed Jiraiya with starting to take control of Jiraiya's chakra, then we continue to learn that Pein is a body snatcher. I'm thinking that those "piercings" are actually a type of organism that spreads through the body to take control of the host.
But you must be asking "how can Pein take possession of Jiraiya if he's dead?" That's simple. Pein's bodies appear to be able to resurrect themselves as long as there are no obstructions (i.e. a sword in the chest or a half a body). Jiraiya won't be one of Pein's bodies until the organism takes control, at which point it will resurrect the host.
And with Orochimaru slowly taking control of Kabuto's body, Jiraiya's and Orochimaru's destined final battle will take place.
Okay, moving onto my rant: The last two chapters didn't make much sense... I mean, c'mon. Jiraiya thought he had to be more like his students and never give up? Minato and Naruto never give up because Jiraiya never gave up!
How was it that with no arms, Zabuza, Orochimaru, and Deidara are still badass but Jiraiya's helpless with one arm?
How come before this fight, Jiraiya didn't have any relation to Naruto except through his father, and now he "remembers" that he's Naruto's godfather and actually named him?
How come Jiraiya had to leave his sanctuary to see Pein's bodies when he has already seen all of them and knows who they are?
If Jiraiya just wanted to get another look at Pein's bodies, why did he sneak around just to throw shurikens at them and get their attention in his weakened condition?
Jiraiya's Hermit Mode was supposed to make him stronger and faster, but that boost appears to have disappeared after he made his grand entrance destroying that giant yak summon and sending Pein soaring with a kick to the face.
Why didn't Jiraiya unseal Amaterasu, summon more toads to divide Pein's attention, summon Gamabunta, use (a working) Needle Guardian, or use the super-deadly Toad Mouth Binding?
I think that's all.