Bring a large pot of salted water to a boil and add the pasta. Halfway thru cooking the pasta, add the frozen peas to the water. Refer to package cooking instructions minus 1 minute so the penne pasta will be at dente.

Meanwhile, in a large skillet, add the olive oil over medium-high, and add the finely diced onions and the bacon. Cook until the bacon and onions are crisp but not burned.

Drain the pasta and peas and add them to the onion bacon mixture. Lower the heat to medium and add the heavy cream.

Stir well, add more cream if needed and serve immediately.