Step 1

Cook ravioli as directed on package, omitting salt. Meanwhile, cook next 4 ingredients in large saucepan on medium heat 3 to 4 min. or until cream cheese is completely melted and sauce is well blended, stirring frequently.

Step 2

Drain ravioli. Add to sauce along with the broccoli and peppers; mix well. Cover; cook on medium-low heat 5 min. or until heated through, stirring occasionally.

Step 3

Stir in onions and bacon; cook, uncovered, 2 min. or until heated through, stirring occasionally.