[rkbot]

Would work best to do it on a mill, but without access to one use a center punch and then drill holes starting at 1/8 or so and work your way up to 1 1/8. Using a 1 1/8 drill bit in a drill press can be very scary if taking a lot of material out. or just using it in there period. they get stuck a lot and if used, what your drilling needs to be clamped very well because they can grab and turn something very easily.