If the real question is whether there are other life forms in the universe, then yes, that probability is reasonable. If the question is more about whether there is other "sentient" life or even bipedal life that is like us, then that's a more complicated maybe. As far as life forms (and even alien life forms) are concerned, there are infinite dna combinations, and infinite combinations of environments to foster their evolution, so I think that their shapes and biological systems are limited only by the imagination. I hadn't given it that much thought, but certain rational assumptions could be made. Form follows function from an artistic and scientific standpoint, and following what we know about the kinds of creatures that live in known environments here on Earth, we can deduce and imagine what kinds of creatures may live on various planets. The bigger question then becomes not "Is there other life in the universe?", but "As we are thinking about them, are they dreaming of us?"
I've always thought the jokes about Sirius, the Dog Star, were pretty funny. But suppose the inhabitants of some world in that system actually WERE doglike people. This is a dog girl from an illustration series I did recently.