tried a google search on your interface, it came up with several different ones, so that is no help.
Basically how it works; in preferences you have to select an audio driver that works with your soundcard. The needed drivers are downloadable or came with a cd.
Im not sure, but i think m-audio can work with asio drivers as well, ASIO drivers seem to be the best in most cases.
You'd have to connect your guitar trough a 6mm input jack in your interface, which i think you have? as most interfaces do.
Then, because (if its selecte right) Reason uses the audio card drivers, it can pick up any incoming signals.
What you do is, in your rack; right click -> create new audio track. Then int he audio track, in the rack is a little drop down menu where you can select any audio input.
Here you'd have to select "mono" audio input 1, or 2 dependend on which you use.
Some interfaces have a increaded gain button, since guitar pickups arent really high gained. If you gave one, use it.
Otherwise, check for the manual of your interface, worth reading if your new to it all