Cheesy Ham and Rice

2 cups instant white rice, uncooked
1 can (10-3/4 oz.) condensed cream of mushroom soup
2 cups milk
1/4 cup MIRACLE WHIP Dressing
1 pkg. (6 oz.) OSCAR MAYER Smoked Ham, chopped
2 cups frozen peas
1/2 cup KRAFT Shredded Sharp Cheddar Cheese

Mix rice, soup, milk, dressing, ham and peas in 2-qt. baking dish; cover with foil.

BAKE 20 min. at 425°F; uncover.

SPRINKLE with cheese. Bake, uncovered, 10 min. or until rice is tender and cheese is melted. Let stand 5 min. before serving.