Cook the pasta in large pot of boiling water according to package directions. 2-3 minutes before the pasta is finished cooking, toss in the asparagus with the pasta and let the asparagus blanch. Drain.
While the pasta is cooking, make the pesto. Place basil, garlic, walnuts, Parmesan, and salt in a food processor. With the machine running, slowly add olive oil until mixture is smooth.
Toss the cooked pasta, asparagus, and pesto together until pasta and asparagus is well coated. Garnish with remaining Parmesan and freshly ground pepper.