Fill a large pot with water and bring to a boil. Add pasta to the boiling water and cook aldente.
Reserve ⅓ cup of starchy pasta water.
Add pancetta or bacon to a large pan. Cook over medium-high heat until the pancetta/bacon crisps, then remove and set aside.
Lower the heat to medium, add olive oil and the diced shallots. Cook for about 1 minute then add the peas, cover and let cook.
If your peas are fresh you may need to add ¼ cup of water.
When the peas are cooked but not soggy (about 5 minutes if you are using fresh peas), add back the bacon, the cream, the reserved pasta water, mix well then add the pasta and grated cheese!
