Once the wheel is off, you'll generally find the sensor:
* At the inner edge of the wheel hub, near the brake caliper. It's usually a small, cylindrical sensor with a wire coming out of it.
* Sometimes mounted to the backing plate (or knuckle) near the hub.
To be sure: A repair manual specific to your 2001 Chevy S10 Blazer will give you the exact location and diagrams. A Haynes or Chilton manual would be a good investment if you plan to do your own repairs. You can also find diagrams online, but always double check to make absolutely sure before disconnecting anything.