Most of my diving is local lakes, in which case no.
On ocean dives I carry a DAN smb that has a pouch with a mirror, whistle, and glow stick. It's slightly bulky but worth it IMO.
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My advice would be to remove the stuff from the pouch and store elsewhere. I'ts gonna be easier to launch the marker without the stuff, and it will be easier to store the marker and the other stuff if you separate them. Also, if you lose the marker, you don't want to lose the mirror and whistle, right?