I haven't had the chance to put a dead party member in my bag of holding yet, but last night I did put the corpse of the astrologer who was helping us look for clues in my bag so we could take her to the abbess for resurrection without causing a stir in the streets of Irilian.Oh, and corpses of slain party members, if they'll fit.
...a group of hirelings that the Knights placed inside a magical bag of holding in order to transport them with them more easily. After Teflon Billy, who was in charge of the bag, forgot to feed the hirelings or let them out of the bag for several months, he was shocked to discover that - rather than dying - they had created a fortress and society within the bag, living off the other resources that the Knights had stored there. This led to a conflict and eventually to several full-scale "Bag Wars" in which the Knights attempted to reclaim their items.

(Dungeons & Dragons)
Rulebook featuring "high magic" options, including a host of new spells.