Pan-sharpening aims to generate high-resolution multispectral (HRMS) images by integrating a high-resolution panchromatic (PAN) image with its corresponding low-resolution multispectral (MS) image. To achieve effective fusion, it is crucial to fully exploit the complementary information between the two modalities. Traditional CNN-based methods typically rely on channel-wise concatenation with fixed convolutional operators, which limits their adaptability to diverse spatial and spectral variations. While cross-attention mechanisms enable global interactions, they are computationally inefficient and may dilute fine-grained correspondences, making it difficult to capture complex semantic relationships. Recent advances in the Multimodal Diffusion Transformer (MMDiT) architecture have demonstrated impressive success in image generation and editing tasks. Unlike cross-attention, MMDiT employs in-context conditioning to facilitate more direct and efficient cross-modal information exchange. In this paper, we propose MMMamba, a cross-modal in-context fusion framework for pan-sharpening, with the flexibility to support image super-resolution in a zero-shot manner. Built upon the Mamba architecture, our design ensures linear computational complexity while maintaining strong cross-modal interaction capacity. Furthermore, we introduce a novel multimodal interleaved (MI) scanning mechanism that facilitates effective information exchange between the PAN and MS modalities. Extensive experiments demonstrate the superior performance of our method compared to existing state-of-the-art (SOTA) techniques across multiple tasks and benchmarks.