It rather depends on your printer. If your printer can handle 22" paper,
then Word can (but 22" is the absolute maximum dimension it can handle). If
you have Word 2002 or 2003, you can set up this paper size and use the "Book
fold" feature (assuming that by "bound in the center," you mean that you are
creating facing pages 11" wide and 8.5" high). If you're using an earlier
version, see
http://word.mvps.org/FAQs/Formatting/BookletPrinting.htm for
workarounds.
If you're trying to create a portrait document (two 8.5" x 11" pages one
above the other), you'll have a much harder row to how. You can (in Word
2000 and above) set up the paper size and use "2 pages per sheet" in Page
Setup, but you won't get the correct imposition to create a booklet.