Using xargs with multiple arguments

I'm trying to dump a load of sqlite tables to .csv format from the cmd line using xargs, i.e.

find . -name "*.db" -print0 | xargs -0 -I {} sqlite3 -header -csv {} "select * from pulse_data;" > {}.csv

for some reason its writing to {}.csv rather than each .db file in turn

Is there a problem with using the {} notation more than once?

If I run it without the redirect it seems to work as expected, i.e.

find . -name "*.db" -print0 | xargs -0 -I {} sqlite3 -header -csv {} "select * from pulse_data;"

just prints all the .db tables to stdout as expected in .csv format

How can i get it to redirect to a suitably named file, i.e. .db.csv?