Although it's over your budget ($135) and maybe a bit big, but the now discontinued and hard to find Camelbak Demon is a really nice choice for bike rides. It's a 2.1 liter Camelbak hydration pack with plenty of storage for an afternoon ride and a sack lunch, cell, phone, wallet and all the necessities. Touching the small of your back is a hidden gun compartment complete with holster and mag holder. Like I said it's discontinued and hard to find and not cheap but it's a Camelbak and will last a lifetime.
Gear Capacity: 1404 cu in (23.0 L)
Liquid Capacity: 72 oz (2.1 L)
Dimensions: 19 in x 10.5 in x 7 in
Empty Weight: 3.0 lbs.
Full Weight: 7.6 lbs.