PLACE asparagus in 2-L microwaveable casserole. Add water; cover with waxed paper. Microwave on HIGH 5 to 6 min. or until asparagus is crisp-tender; drain.
COMBINE remaining ingredients in microwaveable bowl. Microwave 2 min or until cheese is melted and mixture is well blended, stirring after each minute.
SERVE over asparagus.
serving size = 1/4 recipe (104 g)