They test how a series of branches are predicted after returning from a hypercall, which lets them basically dump out the state of the BTB. From that, and knowledge of where the branches are in the hypervisor binary (the binaries themselves aren't really a secret, only the relocated load address is) they can figure out the load address of the hypervisor.
See the section "Reading host memory from a KVM guest / Locating the host kernel". It's terribly clever.