Melt I Can't Believe It's Not Butter!® Spread in medium saucepan over medium heat and cook ham, stirring occasionally, until lightly golden, about 3 minutes. Stir in milk and water. Bring to a boil over high heat.
Stir Knorr® Pasta Sides™ into saucepan. Return to boil, then reduce heat slightly and cook, stirring occasionally, 8 minutes or until pasta is tender.
Remove from heat. Stir in asparagus and 2 Tbsp. cheese. Let it stand covered for 3 minutes. Stir and sprinkle with remaining cheese.