The other answer is not really correct (I don't think they read their own doc references). You can bind multiple times to a service without any problems. Each connection to the service will operate independently of each other, and their ServiceConnection objects will reflect when they independently connect and disconnect.
There will only ever be one instance of a service as defined in the manifest. When a client is bound for the first time, the service object will be created. Each new client will not create a new object instance of that service. But when the last client is unbound, the service destroy (as long as it is not also currently "started") by onStartCommand.
You can verify all this behavior by using well-placed log statements in your code.