Cyclist and Bicycle animations were created in Maya.
Main animation components on the cyclist included Knee/Leg movement, driving of the hips and some minor movement in the upper back, arms and head. The bicycle animation was fairly trivial as the crankset was really the only moving part. The spinning of the wheels would be later handled in Unity to match the traveled speed. The turning of the pedals was constrained to the animation of the cyclist legs.
With this, normal seated pedaling, out of the saddle pedaling, mounting the bicycle and a "stopped" animation was created. A transition between seated and out of the saddle pedaling was also created, but I ended up using Unity's cross fade instead during game play.