No, it's actually higher than 10.8%, particularly if you know your opponent has AA. There are two cards that help you, so the probability of not spiking a K on the flop is:

(46*45*44)/(48*47*46) = 0.8777

So the probability of spiking a K is 1-0.8777 = 0.1223.

If you don't know your opponent's holding, your probability is 0.1175.