Preheat oven to 425 degrees. Combine flour, powder, sugar, salt and cayenne pepper in the bowl of a food processor. Pulse to mix. Add cheese and butter and pulse until mixture resembles coarse meal, approximately 15-20 pulses. Pour in buttermilk and pulse (about 6-10 times) to blend. Mixture will not form a ball, but will come together. Remove onto a very lightly floured surface.

Gather dough into a ball and roll or pat out until it is approximately 1/2" thick. Cut out biscuits, using a 2 - 21/2" biscuit cutter. Place on an ungreased cookie sheet about 1" apart. Rework scraps of dough to form more biscuits. When all the biscuits are cut, you should have 12 all together.

Bake for 12-15 minutes or until tops are a pale golden brown. Biscuits are good served hot or cold and may be made ahead and frozen.