PREPARE pasta according to package directions, reserving ½ cup cooking water.
HEAT oil in large skillet over medium-high heat. Add asparagus and mushrooms; cook, stirring occasionally, for 2 minutes or until almost tender and golden.
ADD pesto, sundried tomatoes and reserved cooking water to skillet; heat through. Add pasta to skillet; stir gently to coat. Season with salt and ground black pepper. Top with cheese.