Question concerning subscription renewal!

In 45 days my current Norton Antivirus 2012 expires.  I'm "sitting" on a brand new three PC, AV 2011 CD that I purchased on sale.  As it comes with a Product Key, is there a means to just enter the new key?  If not, since the version I'm now using is 2012, I assume I'd have to uninstall it first then run the 2011 CD and then update it to 2012.  Is that correct?  Thank you!