Melt margarine in large skillet over medium heat. Add rice mix; cook and stir until lightly browned. Add water, contents of seasoning packet from mix and meatballs. Bring to a boil. Stir; reduce heat to medium-low. Cover; cook 15 minutes.
Add broccoli and bell pepper to skillet. Cover; cook over medium heat for 7 to 9 minutes or until broccoli is crisp-tender and rice is tender. Stir to fluff rice before serving.