Prepare the donut pan by spraying it with nonstick cooking spray.
In a large bowl, combine cake mix, peanut butter, eggs, oil, water, and mix.
If needed, add a little extra water, 1 tablespoon at a time. The batter should resemble cake batter; the peanut butter often thickens it up a tad, but a little water takes care of the problem.
Fill each donut hole on your pan to the top; this will help them have a nice round top.
Bake for 6 to 10 minutes or until toothpick done and golden brown on top.
Sauce
Combine jelly, water, and powder sugar and mix completely. Give it a little taste, and if needed, add a little extra powdered sugar!