Bring a large pot of salted water to a boil.
Add the spaghetti and cook until al dente, following the package directions.
Reserve 1 cup of the pasta cooking water, then drain the pasta and set aside.
While the pasta cooks, dice the pancetta into small pieces.
Heat a large skillet over medium heat and cook the pancetta until golden and crispy.
Remove pancetta with a slotted spoon and place on paper towels. Leave the rendered fat in the pan.
In a bowl, whisk the egg yolks with most of the grated cheese (save a little for serving).
Add a generous amount of freshly cracked black pepper.
Add the hot pasta directly to the skillet with the pancetta fat over low heat and toss to coat.
Remove the pan from the heat. Pour the egg and cheese mixture over the pasta, tossing quickly and constantly.
Add a little reserved pasta water at a time until the sauce looks smooth and creamy.
Stir the crispy pancetta back in.
Serve right away with extra cheese and more black pepper on top.