Preheat the oven to 350°F and spray the baking dish with cooking spray.
In a large bowl, cream together the cream cheese and sour cream.
Add corn kernels, red bell pepper, green chilies, bacon, cilantro, chili powder, cumin, salt, pepper and 1 cup of shredded cheese to the bowl.
Stir until all ingredients are thoroughly combined and spread the dip into the prepared baking pan.
Sprinkle the remaining ½ cup shredded cheese on top.
Bake for 30 minutes or until dip is bubbly and cheese is melted.
Garnish with additional corn, peppers, bacon and cilantro if desired.
Serve immediately with tortilla chips.
