In a large pot or Dutch oven, heat 2 tablespoons of olive oil over medium heat. Add 1 medium diced onion and sauté for about 5 minutes, or until it becomes translucent and fragrant.

Stir in 3 minced garlic cloves and 2 diced jalapeños, cooking for an additional 2 minutes.

Introduce 1 pound of boneless, skinless chicken breasts to the pot, followed by 4 cups of chicken broth. Bring the mixture to a boil, then reduce the heat to a simmer. Cook for about 15 minutes.

Once the chicken is cooked, carefully remove it from the pot and shred it using two forks. Return the shredded chicken to the pot.

Lower the heat and pour in 1 cup of heavy cream, along with 1 teaspoon of ground cumin and 1 teaspoon of paprika. Stir to combine and season with salt and pepper.

Add 1 cup of softened cream cheese to the pot, whisking until fully incorporated. Then mix in 1 cup of shredded cheddar cheese until melted and creamy.

If desired, fold in ½ cup of crumbled bacon for a delightful crunch.

Ladle the soup into bowls and garnish with fresh cilantro.