Step by step instructions:
http://www.jeepkj.com/forum/showthread.php?t=26115
as you can see later in that thread, i didn't need all the parts in the list. I also have an '05 sport, and did not need the clockspring (the most expensive part) and i reused the steering wheel bolt. Getting the steering wheel off is a pain, you will probably need a puller. Having dremel skills helps for cutting out the tabs where the control knobs go, but you don't have to be great at it since there is
some trim around the controls that hides the cut.
If you are going to purchase a whole new wheel anyway, you might want to call around to local junkyards or take some time to see if one pops on ebay. Not too long ago i saw a wheel in good shape with the controls for about the same price as the switches and wires.