Place jelly in small microwave-safe bowl. Cover and microwave on HIGH 1 minute or until jelly is melted, stirring once. Add remaining ingredients; mix well. Cool slightly. Reserve 1/3 to 1/2 cup marinade for glaze.
Place beef steak(s) and remaining marinade in food-safe plastic bag; turn steak(s) to coat. Close bag securely and marinate in refrigerator 15 minutes to 2 hours for tender steaks; 6 hours or as long as overnight for less tender steaks, turning occasionally.
Remove steak(s) from bag; discard marinade. Place steak(s) on grid over medium, ash-covered coals or over medium heat on preheated gas grill. Grill according to the chart for medium rare (145°F) to medium (160°F) doneness, turning occasionally. Brush steak(s) with reserved glaze during last 5 minutes of cooking.