You could always take all your values and use the "text to columns" function under the Data menu. Just delimit with a period. Then you'll have one column for the minutes and one for the seconds and you can do this:
......A....B
1....1....25
2....1....25
3....1....25
4....1....25
=TIME(0,SUM(A1:A4),SUM(B1:B4))