Preheat oven to 350 degrees. Prepare muffin pans by placing cupcake liners in them.
In a large bowl, combine the cake mix, pumpkin pie spice, and cinnamon.
Then add in the pumpkin, water, oil, and eggs.
Next, beat the combined ingredients with an electric mixer on medium speed for about 2 minutes or until smooth.
Divide the batter evenly between the two muffin pans.
Bake for 18-20 minutes.
Cool the cupcakes in the muffin tin for about 10 minutes before remove onto cooling rack.
Once the cupcakes are completely cool, then begin making the frosting.
For the cream cheese frosting, beat butter and cream cheese in a stand mixer until light and fluffy.
Gradually add the powdered sugar and milk. Beat on high until smooth. Add extra milk or powdered sugar to reach desired consistency.