Peel and core pears from the bottom, leaving stems intact. Cut a thin slice off the bottom of each pear to provide a flat, even bottom. Set aside.
Mix remaining ingredients in large saucepan. Bring to boil. Place pears in liquid in saucepan, standing pears with stems pointing up. Reduce heat to low; simmer, covered, 20 to 30 minutes or until pears are tender. Remove pears from saucepan.
Cook liquid 15 minutes longer or until reduced to about 3/4 cup. Serve pears drizzled with sauce.