Butter both sides of 2 slices of old bread. Cut a hole in each with a cookie cutter (any shape you want, but the rounder ones work best). Heat frying pan or flat griddle on med. heat and spray with cooking spray.
Put buttered bread in pan and immediatly crack an egg into each hole inside the bread. Add pepper to taste. (Cover with a lid if you want over hard eggs).
In small bowl whisk one egg, milk, Splenda and pumpkin pie spice together. Add leftover bread that was cut out with the cookie cutter. Coat bread holes in egg mixture and add to pan. Uncover pan and flip toast with eggs in them. Bread should be slightly browm on each side (same for the bread holes).
Serve immediatly. I find that the bread holes are sweet enough by themselves, but if you have to, add some sugar-free maple syrup or no sugar added fruit spread/jelly/preserves to them.