Step 2

In a heavy saucepan, melt the butter and add the sliced onions. Saute the onions over medium heat until they are caramelized. This step can take 30 minutes. You'll want to stir the onions often to prevent them from burning.

Step 5

After the onions have caramelized, stir in the white pepper and thyme. Add the flour and mix throughly with caramelized onions. Pour in the sherry and cook until thickened.

Step 8

Stir in the chicken stock and bring to a boil. Reduce heat and let cook for 5 more minutes. Add cream, lemon juice, salt, black pepper, and hot sauce. Cook until heated through.

Step 11

If needed, adjust seasoning.