1.Drain pineapple, reserving juice. Add water to juice to make 1 cup. Stir in sweet-and-sour sauce mix.
2.In large skillet, sauté onion and bell pepper in oil over medium heat, stirring constantly, 4 minutes. Add SPAM® Lite and water chestnuts; cook 1 minute longer. Add sweet-and-sour sauce and pineapple; bring to a boil. Boil 1 minute.