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Melt butter in a large skillet over medium-high heat; cook and stir onions and jalapeno peppers in the butter until softened, 3 to 5 minutes. Stir Mexican-style tomatoes into onion mixture; add rice, salt, and black pepper. Bring rice mixture to a boil, reduce heat, cover, and simmer until rice is cooked, 40 to 45 minutes. Garnish with sour cream and Cheddar cheese to serve.