  We study the reconfiguration of the angular resolved photoemission spectrum
near $M$ point which occurs in Bi$_2$Sr$_2$CaCu$_2$O$_8$ upon cooling below the
superconducting transition temperature. Restricting our attention to the case
of underdoped samples we offer a phenomenological mechanism-independent
argument which explains the emergence of a peak in the spectrum in terms of the
normal state pseudogap. All of the basic experimental observations, including
the peak dispersion, `dip-and-hump' shape of the superconducting state spectrum
and appearance of the peak at the temperatures somewhat higher than $T_c$, are
naturally explained.
