Convert PDF to Booklet PDF (Acrobat doesn't save a PDF from the Print Dialogue)

I have a PDF document with multiple 8.5x11 Letter size pages. I want to create a correctly paginated 11x17 Booklet from this, but save it as a PDF instead of sending it to the printer.

Adobe Acrobat does not allow this. You can use Adobe Acrobat to do the pagination so long as you send it to the printer, but you cannot save it as a PDF.

Is there an easy way to do this?

Adobe Acrobat 11.0.10 on Mac OS X 10.9.5

There are many times that I've needed to do this and never found a straightforward way to do it. Every time it comes up I spend hours searching the Internet either because I can't remember how I solved it two years ago, or because my solution two years ago was unsatisfactory.

Thanks.