Combine Sauce ingredients in small saucepan over medium heat; bring to a boil. Reduce heat; simmer, uncovered, 10 minutes to blend flavors, stirring occasionally.
Place sauce in blender or food processor container. Cover; pulse on and off for slightly chunky texture. (For a thinner sauce, stir in additional 1 to 2 teaspoons water.) Return sauce to saucepan; keep warm until ready to serve.