  The production of K$^{*}$(892)$^{0}$ and $\phi$(1020) in pp collisions at
$\sqrt{s}=7$ TeV was measured by the ALICE experiment at the LHC. The yields
and the transverse momentum spectra d$^{2}$N/d$y$d$p_{\rm T}$ at midrapidity
$|y|<0.5$ in the range $0<p_{\rm T}<6$ GeV/$c$ for K$^{*}$(892)$^{0}$ and
$0.4<p_{\rm T}<6$ GeV/$c$ for $\phi$(1020) are reported and compared to model
predictions. Using the yield of pions, kaons, and Omega baryons measured
previously by ALICE at $\sqrt{s}=7$ TeV, the ratios K$^{*}$/K$^{-}$,
$\phi$/K$^{*}$, $\phi$/K$^{-}$, $\phi/\pi^{-}$, and ($\Omega$ +
$\overline{\Omega}$)/$\phi$ are presented. The values of the K$^{*}$/K$^{-}$,
$\phi$/K$^{*}$ and $\phi$/K$^{-}$ ratios are similar to those found at lower
centre-of-mass energies. In contrast, the $\phi/\pi^{-}$ ratio, which has been
observed to increase with energy, seems to saturate above 200 GeV. The
($\Omega$ + $\overline{\Omega}$)/$\phi$ ratio in the $p_{\rm T}$ range $1$-$5$
GeV/$c$ is found to be in good agreement with the prediction of the HIJING/BB
v2.0 model with a strong colour field.
