USB VCC powered relay
You will find that your Status LED will be VERY bright, you will probably end up with a 220 ohm resistor instead of the 120. 

Where you have the diode at this time will force all the current your relay coil draws to go through the diode. The diode is probably not needed in this circuit.

As long as your relay is rated at 5VDC it should work as you have it in the circuit.