The receiver will get it's power from the Speed Controller. The ESC has a Battery Elimination Circuit (BEC) that provides a regulated 5v to the receiver, and through that to the gyro and servos.

If your budget allows it, consider the Futaba 9CHS transmitter over the 7CH. There is about a $100 difference, and this is a fantastic transmitter. Planes and helis will come and go. Your transmitter will stay with you for a long time.