You don't. FCP7 doesn't work with the RAW format (H.264) that the camera shoots. It might LOOK like it will, but in the long run, it won't. So you need to convert the footage to ProRes first. And you can't use the internal FCP tool called LOG AND TRANSFER as it doesn't work with that particular Canon. You'll need to use Compressor, or MPEG STREAMCLIP, or 5DtoRGB.