Place asparagus on a sheet of waxed paper; coat with nonstick cooking spray. Sprinkle with pepper; turn to coat. Wrap a bacon piece around each spear; secure ends with toothpicks. Grill, uncovered, over medium-low heat for 8-12 minutes or until bacon is crisp, turning occasionally. Discard toothpicks.
Or bake at 350 until bacon is crispy, turning once.