Preheat the oven to 350° and prepare a bundt pan by spraying with a nonstick cooking spray.
Cut each biscuit into sixths and roll into balls. Place in a large mixing bowl and add 2 tablespoons of olive oil. Lightly toss to coat.
In a small pan, add 1 teaspoon of oil and over medium heat, cook the onion and jalapenos until tender. Remove from heat and set aside.
Add shredded cheese, cooked onion and jalapeno to the dough balls. Toss to coat dough balls (they may stick together so just reroll them into balls).
Place rolled jalapeno cheese balls into the prepared Bundt pan.
In a small bowl, mix melted butter and garlic powder together and pour over dough.
Bake in preheated oven for 45-55 minutes or until golden brown and baked through.
Remove from oven and enjoy.