Preheat the oven to 350 degrees.
Mix the granulated sugar and cinnamon in a small bowl.
In a saucepan, melt the butter and brown sugar over low heat, stirring well; set aside.
Cut the cream cheese into 20 equal pieces. Take a biscuit and stretch it out a little with your fingers and sprinkle with 1/2 teaspoon of cinnamon sugar. Place a cube of cream cheese in the center of the biscuit, wrap and seal the dough around the cream cheese. Continue with remaining biscuits.
Spray a bundt cake pan with cooking spray and sprinkle in 1/2 cup of the nuts. Place half of the biscuits in the bottom of the bundt pan. Sprinkle with half of the remaining cinnamon sugar, half of the butter/sugar mixture and another 1/2 cup of the nuts.
Add remaining biscuits, cinnamon sugar, butter/sugar mixture and nuts to pan. Bake for 30 minutes. Remove from oven and let stand for 5 minutes before inverting onto plate.