That's definitely not the main problem. Risk of intracranial hemorrhage/strokes and other complications make it problematic.
So it's not enough to make them smaller and cheaper, they also have to be made much less prone to these complications. I am sure that will happen in time, but I am also sure we'll be able to grow people new lungs in time
https://live.staticflickr.com/3142/2639039443_ba623ddca0_b.j... shows the working space on a -135. Note that access to most of the patient is heavily restricted - only chest and head, really.
Still, to be clear, we are not really at the 'portable' stage either. There's about 65lb of equipment needed for an ECMO patient just for the ECMO itself, beyond other things like Lifepaks for monitoring.
If anyone wants to design a portable, integrated ECMO system reach out.