I have a Pearl Izumi jacket I bought at Fleet Feet in Adams Morgan a couple of years ago. I bought it for running and love it. The sleeves zip off and are stored in a pouch within the jacket. paid $100. This is the closest I could find.
http://www.pearlizumi.com/content/pearlizumi/united-states/en/home/products/women/ride/apparel/outwear/outwear-11231303.html