Hi Shoukat,
An extra 540 kb of payload is a lot of extra weight for a page.
I would try to optimize them further to reduce size or reduce the number of them
There are several different slide show type widgets for jQuery you may need to make a custom solution rather than just use the built in SlidePanel that uses the jQuery cycle plugin. There are other ones including jCarousel and EasySlider.
I will be giving a presentation on integrating jQuery widgets on August 24 at the online mojoPortal user group. I will specifically be covering jCarousel and maybe also EasySlider.
One possible solution would be to load the images dynamically by javascript instead of pre-embedding them in the markup, it could make the page seem to load faster because the javascript could run before all the images are loaded. I will show how to do that with jCarousel in my presentation.
Best,
Joe