In a small bowl beat the cream cheese, cheddar cheese, diced pepperoni and spices until well blended.
Shape into a ball. Roll into additional grated cheddar cheese and diced pepperoni for a festive look (optional.)
Place onto a serving dish and serve immediately or keep refrigerated.
Serve with crackers or any crunchy snack.
NOTE: Microwave cold cream cheese for 30 seconds to bring to room temperature, quickly. FOR FESTIVE LOOK: Roll cheese ball in diced pepperoni, grated cheese or chopped nuts. Can keep at room temperature for up-to 6 hours, then refrigerate.