Add the yeast to the warm water. Stir slightly then let the mixture sit until it just starts to foam--5 to 8 minutes or so.
In a medium bowl, add the flour, sugar, salt, olive oil and yeast mixture. Stir to combine, then use your hands to mash the mixture around in the bowl until a shaggy ball starts to form.
Sprinkle the counter lightly with flour and knead the ball until smoother and more elastic--about 4 or 5 minutes. Place the dough back in the same bowl and drizzle with a teaspoon of olive oil to keep the dough from forming a hard crust.
Cover with plastic wrap and allow the dough to rise until doubled or almost doubled--about 45 minutes to an hour depending on the room temperature.
Once risen, roll balls of dough about 1" wide. You should have about 40.
Set the balls aside.
In a large bowl, add the olive oil and melted butter.
Add the garlic powder and Italian seasoning and mix well.
Add the cheese and pepperoni to the bowl and the dough balls and use your hands to mix everything together gently. Try not to mash the dough balls.
Grease a bundt pan or 10” cast iron skillet well with oil. Add the dough ball mixture to the pan.
Preheat the oven to 350.
Let the dough balls sit 15 minutes to puff slightly while the oven preheats, then bake 30-35 minutes until the dough is cooked through. Tent with foil as needed if the top gets dark. You can use a thermometer to check the center which should be about 200 degrees in the center.
Turn out the pizza bread by running a knife around the edges then placing a plate on top and inverting the bundt pan.