The sim sets up as a different model, so just case of going into models into the ST16 and selecting your simulator one. Then just select your Typhoon model when you go fly that and it will automatically bind, nice and easy.
It should show up in the bind screen itself first. You also have to go into bind mode in the software on PC too I believe, but it's been a while since I did it so I may be wrong. This is just off the top of my head!