If you can get it within 1cm of the processor, put it there and route the clock straight from one to the other. A trace that short just doesn't have the length to radiate or pick up interference to any significant extent. Make sure there's a continuous, unbroken ground plane on a layer adjacent to the clock trace and it'll work fine.
FYI, Gbit Ethernet is often very noisy in terms of radiated EMI, so you may well see harmonics of 125 MHz when you go emissions testing - but it won't be directly due to this crystal or its connection to the processor. Expect to need shielded RJ45 cables, and pay close attention to the grounding around your Ethernet PHY.