Hi John,
No need to wait for panniers as the pegs do not interfere with them.
I bought a piece of flat iron, 3/8" thick. 1.25 inches wide.
Cut two pieces 8" long.
Drilled mounting hole in center 2" from end.
Drilled peg mounting hole 5.5" from top mounting hole.
Buffed off all burrs and nasty metal edges, smoothed out.
Primed extenders and then sprayed with metallic silver paint (that as it turns out matches bike color perfectly), multiple coats.
Used washers to fill up space between extender and mounting bracket (when you get down there to do it you will find existing metal ridges on mounting bracket that prevent peg extender from laying flush against bracket - that is why you need spacers). Used locking washers etc etc.
Mounted extenders slightly tilted forward as this seems to work best, you can adjust to your preference.
Finished job looks pretty decent:
Have at it. Works great and now the wife happy to join me.