Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
It won't. You have to put OSX onto the new drive first which means starting up off the Restore CD/DVD (start up with disk in tray, holding down C) and following the prompts to format and then install OSX on the new hard drive. :)
 
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.