I would do it one of the 2 following ways:
I am making the presumption that you have a cruise control switch already that is populating the cruise control hole in the dash and using the connector - if not, then you can use the wiring loom that is there already and just tap into the 2 wires you need for the ignition 12V in and then the output which will drive the relay.
If you already have cruise control switch and the one you have bought is going into an empty slot in the dash, then you will need to tap the Red/White illumination wire, and the Black ground wires into the loom behind the fascia with the other connectors.
You would then need to run only 2 wires, one would be the ground wire from the actual switch contact (to ground the relay coil) and the other being the wire to the telltale lamp, which would join to the output of the relay contacts, to make the telltale glow when the relay is active and power going through it.
You could then mount the relay anywhere there is an ignition switched 12V feed, and then link this between the common relay contact and the relay coil.
Option 2 means you run an ignition switched12V feed to the dash switch. You could then join the output of the switch with the telltale lamp, and run that wire back to the relay coil. The other side of the relay coil would need to be grounded, and then also the 12V ignition feed to the relay contact to be switched.
The main difference between the 2 options is that Option 1 will have the telltale illuminated when there is power coming through the relay to the sensor unit. Option 2, the telltale will be on as long as the switch has power and it turned on. It won't necessarily indicate there is power going through the relay. (it's unlikely the relay would fail - but if it did, the telltale would still light - whereas with option 1, it wouldn't.
Hope this helps,
Marty