The High Temperature silicone/copper gasket sealant is only good for temperatures up to 700 degrees F (intermittent).
The metal temperature of your exhaust pipe can easily get up to over 1300 degrees F if you are riding your bike hard. Localized areas in the cylinder heads exhaust port may heat up to over 700 degrees F. but won't be over 1100 degrees (the melting point of most aluminum alloys
)
As a side comment, in a gas turbine engine we used silicone O-Rings in an area which ran at a temperature of 600 degrees F in an air environment and although they were rated to 700 degrees F after 100 hours of service they hardened and started turning to dust.
Digging around the web I found a product that looks like it would do the job.
It's called Deacon 8875, a paste sealing compound that is good for temperatures up to 1800 degrees F, stays somewhat flexible and intended for applications like this. Here's a link.
http://www.deaconindustries.com/high-temperature-sealant.htmlUnfortunately, I couldn't find a source for it except the Deacon company (the one boneheaded link that acts like it will sell it doesn't have it and is just a grab to get you to their site). I didn't try to contact Deacon because it is an industrial product and I would bet they would want to sell it to me in 500 pound lots.
It does look interesting though.
It would be nearly impossible for any sealant at the exhaust port to get back inside your engine.