Heat 10-inch nonstick skillet over medium-high heat. Add onion and bell pepper; cover and cook, stirring once, until vegetables are crisp-tender.
Stir in kielbasa, tomatoes and water. Heat to boiling. Stir in rice; return to boiling. Reduce heat to low; cook about 5 minutes or until rice is tender. Fluff with fork before serving. If desired, serve with red pepper sauce.