1. Preheat oven to 425°.
2. Combine first 5 ingredients in a medium bowl; cut in margarine with a pastry blender until mixture resembles coarse meal. Add buttermilk, stirring just until dry ingredients are moistened.
3. Turn dough out onto a lightly floured surface, and knead 10 to 12 times. Roll dough to 1/2-inch thickness; cut into rounds with a 2-inch biscuit cutter.
4. Place rounds on an ungreased baking sheet. Bake at 425° for 10 to 12 minutes or until golden. Lightly spray biscuits with cooking spray. Serve with reduced-calorie jelly, if desired.