In trying to stick with the original intent of this thread....a long time ago, before I knew any better, I occasionally mounted a Spare Air horizontally on the side of a BCD as close in as possible to avoid drag. The holster mount was sewn at the very top of where the weight pocket was inserted into the BCD. In other words, the Spare Air sat just at the top of the integrated weight pocket as close to the rear as possible, out of the way of the quick release mechanism for the weights. The valve/regulator faced forward and the safety leash was attached to a bottom shoulder D-ring. This configuration worked OK, but I had to be careful not to bang it against anything and it still created a little drag.
On some BCDs, the holster can be mounted upside-down between the air bladder (wing) and the back pad or back plate. In an emergency, it is much easier to pull down to release the cylinder than trying to pull up, or reach back to release it.
Just FYI.....I no longer believe in the Spare Air concept after having two (2) of them fail. One was a 2.7 cf, and the other was a 3.0 cf. One froze up and did not work at all during a practice drill after missing an annual service, and the entire valve/regulator assembly had to be replaced at my expense before I could sell it. The other one failed when the high pressure pin indicator blew out while being stored inside of a closet under pressure over the winter months. The cylinder was completely drained, and the HP pin indicator was buried in the wall on the inside of the closet, never to be seen again. This was also replaced at my expense and the Spare Air was sold. Just glad this event didn't happen while I was diving with it. I do not recommend Spare Air, mainly due to reliability issues, even when setting the air supply argument aside.
If you don't want to go with a full pony bottle setup, there are some 6 cf, etc., "bail-out" systems, or small 13 cf pony setups on the market that are a little better, but none of them can replace good buddy skills and proper gas management. You just have to remember to constantly practice with them, realize their limitations as bail-out/recreational use only, not to get a false sense of security, and not to replace common sense, buddy skills and gas management skills with them.
Dive safe!