Sewing lace onto a hem?

I was hoping to sew lace onto a hem of a dress today.  I was considering that lace that is solid fabric with the holes in it (eyelet lace?).  It occured to me that there will be unfinished ends.... do I just measure how big around the skirt is and then add an inch to that measurement for the lace.  Then sew it into a ring and attatch it to the skirt? 

Thanks for your advice!

I would sew it on just like a ribbon. Start at one point, sew all around and at the end, overlap the start a little, tuck in the raw edge and back stitch.
I think sewing it together first then attaching it will make the seam too bulky.

Thanks Irene.  So many things to learn about sewing.  Glad to have this site to come to for help.