Finely chop basil, pine nuts and garlic in processor. With machine running, gradually add olive oil through feed tube and process until smooth. Mix in 1/2 cup parmesan. Transfer pest to small jar. (Can be prepared 4 days ahead. Pour enough olive oil over sauce to cover. Cover and refrigerate.)

Bring cream to boil in heavy medium saucepan. Whisk in pesto. Season sauce to taste with salt and pepper. Combine pasta, sauce and remaining 1/2 cup parmesan in large bowl. Toss to coat pasta evenly and serve.