If you are planning to use the same dongle shared with keyboard and mouse then its kind of difficult, usually its not done that way.
If you purchase the wireless keyboard it will also come with its USB dongle and that will work with keyboard, m510 comes with its USB dongle and it will work only with this mouse, so effectively you will end up using both dongles and it should work fine. sometimes if you have USB 1.0 port used for such dongles then it may create issue but if you have USB 2.0 and above then there should not be any issues for these devices.