It works exactly as westaus55 stated.
To clarify what westaus meant regarding a diode in series with pin 5, or any IC pin for that matter, bear in mind that the diode will drop about 0.5V. The output of the 08 will not be the same as VCC but a bit lower, then factor in the drop by the diode and you could approach an output nearly 1 volt less than what you expected.
This may not be sufficient to reliably operate the relay.
It is always good practise to drive relays and other "high" current devices with a transistor. You'll have the advantage of the drive current being limited by the transistor not the IC. The drive voltage will also be closer to VCC.
You will then have more current available to drive the relay (you never know - one may blow and you may not be able to replace it with the same type, so have to substitute a relay with a greater current draw.) With a driver transistor, you may be able to substitue the relay with another different one without worrying about it's current rating. This is of course limited by the transistor Collector/Emitter current which, even in small transistors, can approach half an amp or more with adequate heatsinking.
As well, it is better in an accident to blow a cheap tranny than a more expensive IC.