Prepare hot roll mix according to package directions just to the point where you are ready to shape the dough. Using a rolling pin, roll dough into a 13- x 9-inch rectangle on a lightly floured surface. Stir together raspberry jam and cream cheese. Spread jam mixture evenly over dough rectangle. Sprinkle with granulated sugar. Roll up dough rectangle, jelly-roll fashion, starting at 1 long side.

Place dough roll, seam side down, on a lightly greased baking sheet. Bring ends of roll together to form an oval ring, moistening with water and pinching edges together to seal. Cover with plastic wrap, and let rise in a warm place (about 85°F), free from drafts, 20 minutes.

Preheat oven to 375°F. Bake pastry ring in preheated oven until golden, 16 to 18 minutes. Remove from baking sheet, and cool on a wire rack 10 minutes. Stir together powdered sugar and orange juice until smooth; spoon evenly over top of pastry ring. Sprinkle with fresh raspberries.