If you can put enough goop and duct tape to seal it, the corrugations shouldn't be a problem.
Since th pipe is for drainage, I would even be concerned that there are pinhole-sized leaks in the pipe itself.
The more drop or "head" there is, the less of a problem small leaks would present. If there's 10 foot drop from the pond to the outlet, for example, the water will really fly. If there's only say 5 feet, small leaks will cause th esiphon to stop. You will have to re-start the siphon very often.
