I've done this on quite a few K bikes and like it because it puts all of your fuses in one place, fit's under all K bike side covers and is inexpensive.
You need to rearrange the relays in the relay box a bit and drill a 1" hole in the side of the relay box and then use a 1" grommet to pass the wires through.
The fuse block I use is a fairly common one and can be found via Googling "http://www.google.com/search?rlz=1C1DVCI_enUS409US411&ix=sea&sourceid=chrome&ie=UTF-8&q=four+raised+atc+fuse+block"
(http://i278.photobucket.com/albums/kk91/electro_handyman/Bike%20Tech/atcraisedfuseblock.jpg)
Here's the one I installed on my K75 Frankenbike:
(http://i278.photobucket.com/albums/kk91/electro_handyman/Bike%20Tech/k75f_auxfuseready.jpg)
(http://i278.photobucket.com/albums/kk91/electro_handyman/Bike%20Tech/k75f_auxfuseinstalled.jpg)
Edit to replace missing photo's