In a small pot, bring water to a boil. Pour in polenta and turn the heat down to the lowest heat possible. Cook, stirring polenta occasionally, for 15 minutes (easy/done) to 30 minutes (longer/better flavor.) Remove from heat and stir in the butter, cream cheese, milk, sea salt, and black pepper. Let sit while cheese and butter melt.
In a skillet, heat olive oil over medium-low heat. Stir in the diced fennel, and cook until tender and fragrant, 4-5 minutes. Add peas, cooking for another 2-3 minutes until hot. Remove from heat and toss cooked vegetables with parsley, sliced almonds, lemon juice, and lemon zest. Divide polenta into two bowls and top with pea mixture.