I'm also on XP, and I've never defragged the Pagefile in x number of years.
I disable it, reboot, defrag the drive, enable the Pagefile again, and reboot again. I've never had a reason not to just bin the Pagefile, and IMHO it's a better way to try get it back into one piece.
Also set the min and max size of the Pagefile the same, and this lessens the chances of it becoming fragmented.
Just thought I'd throw that in as an option.
EDIT: I've just then taken a few minutes to do this, and this is the result:
This is my preferred method to, and I turn off Hibernation to so hiberfil.sys is removed & recreated after defragging.
If you don't have plenty of RAM, then you can create new pagefiles in another filesystem (Drive partition) and setting min & max to same size forces Windows to pre-allocate the space in one piece.