Preheat your oven to 350°F (175°C).
In a mixing bowl, combine softened cream cheese and pizza sauce until smooth.
Stir in the mozzarella and Parmesan cheeses.
Add pepperoni, olives, and bell peppers to the mixture.
Season with Italian seasoning and mix well.
Transfer the mixture to a baking dish and spread evenly.
Top with extra mozzarella cheese and pepperoni slices.
Bake in the preheated oven for 20-25 minutes, or until bubbly and golden.
Remove from the oven and let cool for a few minutes.
Garnish with fresh basil leaves before serving.