1. Combine all ingredients in small saucepan; bring to a boil . Reduce heat; simmer 10 minutes to blend flavors; stirring occasionally.
2. Place sauce in food processor or blender container. Cover; Pulse on and off for 30 seconds or until smooth; adding 1 to 2 tablespoons water to thin sauce, as needed. Return to saucepan; keep warm until ready to use.