Heat oven to 350°F. In medium bowl, combine ground beef, ground pork, bread crumbs, bell pepper, egg and 1/2 cup of the pizza sauce; mix well. Press mixture in ungreased 9x5-inch loaf pan. Bake at 350°F. for 45 minutes.
Remove loaf from oven. Spread about 1/4 cup of the remaining pizza sauce over loaf. Arrange pepperoni over sauce.
Return to oven; bake an additional 20 to 25 minutes or until meat loaf is thoroughly cooked in center and meat thermometer registers 160°F.
Sprinkle cheese over top of loaf; bake an additional 5 minutes or until melted. Let stand 5 to 10 minutes before serving. Heat remaining pizza sauce; serve with meat loaf.