I used some tire patches and bought a vulcanizing glue stuff in a small tube. Clean the area and put on the glue and let it dry and then put the patch on. Press to seal. I actually heated it with the hairdryer to help bond it. I have not used it yet IN the pond, so I don't know if this is going to work yet or not. Will post an update later when I know more.
The tire patches btw were only $12 for a box of 20 and the glue was like $4.
I patched both sides of the hole, top and underneath side.