Preheat your oven to 350°F (175°C).
In a mixing bowl, combine the softened cream cheese and sour cream until smooth.
Stir in the pizza sauce until fully incorporated.
Add the mozzarella cheese, chopped pepperoni, and diced bell peppers to the mixture.
Season with Italian seasoning and garlic powder, mixing well.
Transfer the mixture to a baking dish, spreading it evenly.
Sprinkle additional mozzarella cheese on top for extra cheesiness.
Bake in the preheated oven for 20-25 minutes, or until bubbly and golden.
Remove from the oven and let it cool slightly.
Garnish with fresh basil before serving.