Set a large pot of salted water on high heat and bring to a boil.

While the water heats, cut the bacon or pancetta into small dice.

In a medium frying pan over medium heat, sauté the bacon in olive oil until it releases fat and begins to brown and crisp, about 5 minutes.

Add the peas and turn off the heat; the heat from the pan will defrost and warm peas.

Add spaghetti to the now boiling salted water. Stir the noodles for the first minute or 2 to prevent them from sticking.

While the noodles cook, in a medium bowl, use a fork to lightly whisk together the eggs, cheese and black pepper.

Check for doneness after about 10 minutes.

When the noodles are cooked, turn off the heat and use tongs to transfer the pasta to the pan with bacon and peas.

Toss the pasta in the pan, fully coating it in the drippings from the bacon.

Add the cream and salt, and turn the heat on to medium until the cream heats, thickens slightly and clings to the noodles, about 2 minutes.

Reduce heat to its lowest setting.

Use a ladle to add ¼ cup of the warm pasta cooking water to the bowl of egg mixture and stir to loosen the eggs.

Immediately add egg mixture to pasta and stir vigorously to keep the eggs from heating too quickly and scrambling.

Cook over low heat for 2 minutes, stirring constantly, until the sauce thickens and clings to the pasta.

Serve immediately with extra cheese and black pepper, if desired.