As with the standard bearer, we assume that if the musician is slain, another warrior will retrieve the instrument from his corpse and continue to play (probably not as well, but near enough for our purposes).
The musician cannot be removed as a casualty unless only he, the standard bearer and the champion (if either are present) remain in the unit. If only the standard bearer and/or the unit champion remain beside the musician then the musician must be the next casualty.