Heat oil in a medium nonstick skillet over medium-high heat. Add onion and garlic; cook, stirring constantly, 3 minutes or until tender. Place onion mixture, broth, and next 4 ingredients in a food processor bowl; process until smooth. Return sauce to skillet; cook over medium-high heat 5 minutes or until thoroughly heated.
Cook ravioli in a Dutch oven according to package directions, omitting salt and fat. Drain well. Place about 9 ravioli on each of 3 serving plates. Spoon sauce evenly over ravioli. Sprinkle evenly with cheese and sliced fresh basil.