Place stock in large saucepan, and bring to a boil over medium heat.
Add rice, reduce heat to low and cook according to package directions.
Meanwhile, heat oil in large skillet over medium heat, and sauté onion, peppers and celery for 7 to 10 minutes, or until wilted, fragrant and slightly golden.
When rice is cooked and all liquid absorbed, add vegetables, bacon, meatballs, Cajun seasoning, hot pepper sauce, salt and pepper to rice, stirring until well combined.