According to the sites I looked at, the M11B runs an AMD FM2 CPU. The CPU you are looking at is an Intel. This will NOT fit your motherboard, as it is a completely different spec.
In terms of upgrades, you need to look for an AMD chip if you really want to go down that path, or look at changing your motherboard. as far as bottlenecks go, your CPU isnt overly bad. For any increase i would suggest looking at a custom built or higher spec brand name, (although with those you get hat they think you want, not what you do want). Without knowing what you want to do (graphics, editing, games or whatever) its hard to give any real advice on upgrades, as what you use it for will influence what is most important.