The Roadrunner drink holder will accommodate both travel mug (for those who want their coffee hot or the water cold) and water bottles: http://www.leadermotorcycle.com/CTGY/drink.html

 

Don't have a bottle holder, but use a Hydro Flask for water kept in the saddlebag. I'm filled it with ice and cold water in the morning, drove to work and back and still had remnants of ice in it the next morning.

 

Personally, I just stop and grab a water or something, it all depends. I do not like mounts on my handle bars for water or whatever else. GO for it, if you need it, but I just think if you get thirsty, pull over and get it done. IMO