Add 1 cup water to pressure cooking pot. Place a steamer basket in the pressure cooking pot and add frozen meatballs. Pressure cook for 5 minutes on high pressure.* When timer beeps, release the pressure with a quick pressure release. Remove steamer basket and meatballs from the pressure cooking pot. Discard cooking water and add BBQ sauce and grape jelly to pressure cooking pot. Select Sauté and cook, stirring frequently, until jelly is melted and the sauce is smooth. Add heated meatballs and stir to combine. Switch to keep warm setting until ready to serve.