Step 1

Place all ingredients in a medium saucepan and stir to combine.  Bring to a gentle boil over medium high heat.

Step 2

Cook for 10 minutes (uncovered), stirring frequently.  Reduce heat as necessary to maintain a gentle boil/strong simmer (medium to medium low).

Step 3

Serve warm or cool completely at room temperature, place in an airtight container and refrigerate until ready to serve.  Sauce will thicken as it cools.