Heat oil in large skillet over medium-high heat. Saute onion 2 to 3 minutes or until clear. Add sauerkraut. Cook, stirring occasionally, 8 to 10 minutes or until sauerkraut just begins to brown.
Add kielbasa. Cover pan. Reduce heat to medium. Cook 10 to 12 minutes or until lightly browned, stirring occasionally. Stir in preserves. Cook until heated through. Serve immediately.