I have spoken to leatherseats.com already about this about 6 months back, and they do have pictures on their site of this done. I believe the kit is very inexpensive ($35), but the quality sucks. In order to achieve the clean look that you would get with a steering wheel wrapped from the factory, you'd have to send the wheel to leatherseats to wrap professionally.
I think sending the steering wheel off to leatherseats is about a two week process and costs upwards to around $250 +-. Don't quote me on the time it takes and the prices, but if you want a clean look then it will take some time and more money.