Heat 2 tablespoons of olive oil in a large pot over medium heat for about 1 minute until shimmering. Add 1 medium diced onion and sauté for 5 minutes until soft and translucent.

Incorporate 3 minced garlic cloves and 2 diced large jalapeños into the pot. Cook for another 2 minutes, stirring well.

Add 1 pound of boneless, skinless chicken breasts and 4 cups of chicken broth. Bring to a boil, then reduce to a simmer. Cover and cook for about 15 minutes, or until chicken is fully cooked.

Remove chicken from pot, let cool for a couple of minutes, then shred into bite-sized pieces. Return to pot.

Pour in 1 cup of heavy cream, add 1 teaspoon of ground cumin, 1 teaspoon of paprika, and season with salt and pepper. Stir until well blended.

Add 1 cup of softened cream cheese to the pot. Stir continuously for about 3 minutes until melted and incorporated.

Stir in 1 cup of shredded cheddar cheese until melted completely.

If desired, add ½ cup of crumbled bacon to the pot and let simmer for an additional 5 minutes.

Serve hot, garnished with fresh cilantro.