Grease 13x9-inch baking pan. Remove bread crusts and cut slices in half. Spread 1/2 of bread in bottom of pan. Sprinkle with 1/2 of VELVEETA and sausage. Repeat layers.
Pour combined eggs, milk, salt and pepper over all. Refrigerate overnight.
Bake, covered, at 350°F for 45 to 60 minutes until set and puffed. Let set for 5 minutes before cutting. Serve with fresh fruit.