Prepare biscuits according to package directions.
Meanwhile, in large skillet, sauté SPAM® Classic and onion in butter until SPAM® is lightly browned. Stir in flour and pepper; cook, stirring constantly, 1 minute. Stir in milk; cook, stirring occasionally, until mixture just comes to a boil. Reduce heat to medium; cook, stirring occasionally, until gravy is thickened.
Serve gravy over hot biscuits.
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