In heavy skillet, over medium heat, heat oil. Add onion and garlic; saute until tender. Add tomatoes and thyme; cook stirring frequently, until tomatoes are hot, yet still retain their shape and most of the liquid has evaporated, about 5 minutes.
Remove and discard fresh thyme sprig, if used. Add basil and drained pasta; toss until heated.
Transfer to serving bowl; season to taste with salt and pepper and sprinkle evenly with pine nuts.