Exhaust Pipe Sealant???

[Zilverado]

So, is there a sealant that can be used on flanged exhaust pipe connections? If so how well does it work and how easy is it to remove in the future?

The Situation:
I have a 2-bolt flanged connection that I noticed was leaking (and noisy). The gasket is the grey "asbestos" type with a wire braided reinforced core. I bought the gasket, new bolts and put it all back together. It still leaks slightly, so it likely won't take long to burn up the gasket. It seems as if the flanges are possibly slightly warped. The connection is tight at the bolts, but appears to be slightly open at the "fat" part (around the pipe). This is where the leak is.

So, back to the sealant question. Is this an option, or should I try to go with a double gasket to try and fill the space? I was thinking of using sealant together with the gasket.

What do y'all think?