HEAT oven to 375ºF.
MIX first 5 ingredients just until blended; shape into 16 meatballs. Place on rimmed baking sheet sprayed with cooking spray.
BAKE 20 to 25 min. or until done (160ºF). Meanwhile, cook spaghetti as directed on package, omitting salt.
HEAT spaghetti sauce in large saucepan. Gently stir in meatballs. Drain spaghetti; place on large platter. Top with sauce; sprinkle with cheese and basil.