HEAT oven to 375°F. Spray an 8 or 9-inch square pan with no-stick cooking spray.
COMBINE pancake mix, sugar and white baking chips in medium bowl. Add water, sour cream and vanilla. Blend well. Using an medium scoop, shape dough into sixteen 2-inch balls. Place in 4 rows of 4 each in prepared pan.
COMBINE 1/4 cup sugar, 1/4 cup white baking chips, almonds and cinnamon in small bowl. Sprinkle over dough.
BAKE 24 to 26 minutes or until golden brown. Cool 10 minutes before serving. Serve warm.