Preheat oven to 350 degrees F. Lightly coat a 2-quart square baking dish with cooking spray; set aside. In a medium bowl stir together the pasta sauce and the olives. Spoon 1/3 cup of the sauce mixture in prepared dish. Top with 2 lasagna noodles. In a small bowl stir together the ricotta cheese and 1 cup of the Monterey Jack cheese. Spoon half the mixture on the noodles in the dish. Sprinkle with 2 tablespoons of the Parmesan. Top with half the sausage and half the fennel. Spoon half the remaining sauce over the sausage layer.
Top with 2 more noodles, the remaining ricotta mixture, and the remaining sausage and fennel. Add 2 more noodles and the remaining sauce. Sprinkle with remaining Monterey Jack and Parmesan cheeses.
Cover with foil. Bake for 50 minutes. Let stand, covered, on a wire rack for 20 minutes before serving. Makes 6 servings