In a 2-quart saucepan, melt the butter over medium heat. Stir in the rice and cook and stir for 4 minutes. Add the broth and heat until it reaches a boil. Stir for 2 minutes and reduce the heat. Cover and simmer for 20 minutes or until the liquid is absorbed.

Remove from heat and stir in the cheese, cranberries, and pecans. Season with salt and pepper.