In a soup pot, cook italian sausage until no longer pink. Remove from pan and drain. Add onions, peppers and mushrroms to the same pan. Cook until tender crisp, 5 minutes. Add pepperoni and cook an additional 2-3 minutes, until pepperoni is fragrant. Add sausage back in, as well as the sauce, broth and spices. Simmer for 20-25 minutes. Top with mozzarella and parmesan cheese.