I believe it uses the closest interface to the destination (per the routing table). You can always source from an interface if you need to.
Router#telnet 1.1.1.1 /source-interface ?
Async Async interface
Auto-Template Auto-Template interface
BVI Bridge-Group Virtual Interface
CDMA-Ix CDMA Ix interface
CTunnel CTunnel interface
Dialer Dialer interface
FastEthernet FastEthernet IEEE 802.3
Lex Lex interface
Loopback Loopback interface
Multilink Multilink-group interface
Null Null interface
Tunnel Tunnel interface
Vif PGM Multicast Host interface
Virtual-Dot11Radio Virtual dot11 interface
Virtual-PPP Virtual PPP interface
Virtual-Template Virtual Template interface
Virtual-TokenRing Virtual TokenRing
Vlan Vlan IEEE 802.1q
vmi Virtual Multipoint Interface
Hope that helps.