COOK chops in large skillet sprayed with cooking spray on medium-high heat 2 to 3 min. on each side or until browned on both sides. Remove from skillet; cover to keep warm.
ADD apples, onions and water to skillet; cover. Simmer on medium heat 5 min. or until crisp-tender, stirring occasionally.
STIR in Velveeta; top with chops. Simmer, covered, 5 min. or until chops are done (160ºF).
