In a mixing bowl, dissolve the Jell-O powder in 1 cup of boiling water, stirring until completely dissolved.
Add 1 cup of cold water to the Jell-O mixture and stir well. Divide the mixture into two equal parts.
Pour the first half of the Jell-O mixture into the graham cracker pie crust and refrigerate for about 30 minutes, or until set.
While the first layer is setting, prepare the cream filling. In a large bowl, beat the softened cream cheese until smooth.
Add the sour cream, powdered sugar, and vanilla extract to the cream cheese and mix until well combined and creamy.
In a separate bowl, whip the heavy cream until stiff peaks form. Gently fold the whipped cream into the cream cheese mixture until fully incorporated.
Once the first layer of Jell-O is set, spread the cream filling evenly over the Jell-O layer.
Pour the second half of the Jell-O mixture over the cream filling and return the pie to the refrigerator for another 2-3 hours, or until fully set.
Once set, slice and serve chilled. Optionally, garnish with whipped cream or fresh fruit.