COOK and stir chicken, peppers and garlic in large nonstick skillet sprayed with cooking spray on medium heat 5 to 7 min. or until chicken is cooked through.

STIR in water; bring to boil. Stir in macaroni; cover. Reduce heat to medium-low; cook 10 to 12 min. or until macaroni is tender and just small amount of water remains.

ADD spinach and Velveeta; mix well. Cook 5 min. or until Velveeta is completely melted and mixture is well blended, stirring frequently.