As noted earlier, WWE Champion CM Punk underwent surgery on his left knee today in Pensacola, FL. According to WWE.com, Punk flew to Florida after last night's RAW to meet with WWE physician Dr. James Andrews for an emergency consultation, which resulted in today's surgery.
WWE.com posted an update, noting that Dr. Andrews completed a scope of Punk's knee and removed a piece of torn meniscus that had locked up his knee. According to the update, Punk is expected to make a full recovery.
The report didn't mention if Punk would be able to compete at TLC in under two weeks, however The Wrestling Observer stated that Punk should only be out of action a few weeks. So there is a chance that Punk might be able to work the pay-per-view, although he would have to be very careful. Stay tuned for more updates.