Cook pasta according to package directions; drain. Meanwhile, in large saucepan over medium heat, heat oil. Add onions and bell peppers. Cook 5 minutes, stirring occasionally, or until tender. Stir spaghetti sauce, kidney beans, water, and taco seasoning mix. Heat to boiling. Reduce heat; cook, uncovered, stirring occasionally, 15 minutes. Toss hot pasta and one-half sauce. Spoon remaining sauce over top; sprinkle with cheese.