Bring a large pot of lightly salted water to a boil. Add 1 lb linguine pasta, and cook for 8 to 10 minutes, or until al dente; drain. In a large skillet, melt 1/2 c. butter over med heat. Stir in 2 c. heavy cream, and season with pepper. Cook 6 to 8 minutes, stirring constantly. Stir 1 c. Parmesan cheese into cream sauce, stirring until thoroughly mixed. Blend in 1/3 c. pesto, and cook for 3 to 5 minutes, until thickened. Stir in 1 lb large shrimp, peeled and deveined and cook until they turn pink, about 5 minutes. Serve over the hot linguine.