In a deep extra-large nonstick skillet cook shallots over medium 3 minutes or until tender, stirring occasionally and adding water, 1 to 2 tablespoon at a time, as needed to prevent sticking. Stir in orzo and garlic; cook and stir 1 minute. Carefully stir in broth and thyme. Bring to boiling; reduce heat. Simmer, uncovered, 6 minutes or until orzo is tender, stirring occasionally.
Meanwhile, in a blender combine the next six ingredients (through crushed red pepper). Cover and blend until smooth and creamy.
Stir bean mixture into skillet. Cook 2 minutes or until thickened and creamy. Stir in arugula until wilted. Sprinkle with pine nuts. Serve with lemon wedges.
