Bring a large pot of lightly salted water to a boil. Add pasta and cook for 8 to 10 minutes or until al dente; drain.
Meanwhile, melt butter or margarine in a large skillet over medium heat. Add pancetta, and saute until lightly browned. Add vodka and stir until it is reduced by half, about 4 to 5 minutes. Stir in tomato sauce and cream. Simmer uncovered for 10 to 12 minutes. Stir every few minutes.
Stir in pasta, and heat through. Serve with Parmesan cheese.