COOK pasta in large saucepan as directed on package, omitting salt. Meanwhile, cook spinach in nonstick skillet on medium heat 5 to 7 min. or just until wilted, stirring frequently.
DRAIN pasta; return to pan. Add spinach and all remaining ingredients; cook on low heat 3 to 5 min. or until VELVEETA is completely melted and mixture is well blended, stirring frequently.