First let me say that tour response allows the churche leader to be married, since he can have one wife. But, Your interpretation doesn't fit the Greek. "Must be" refers to a requirement. If God wanted to say the elder couldn't have more than one wife, He would have stated it that way. He didn't.
"..must be the husband.."
Take heed to yourselves and to the whole flock, wherein the Holy Ghost hath placed you bishops, to rule the Church of God which he hath purchased with his own blood.