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.