Pan fry the bacon until crisp. Remove the bacon from the pan but leave grease.
Sprinkle cumin, chili, salt and pepper on each side of chicken breasts and pan fry in the bacon grease until cooked through, flipping half way.
Remove chicken and keep warm. Place chopped jalapeno and garlic in pan and cook for approximately 2 minutes over medium heat. Add chicken broth, scraping and deglazing the leftover browned bits in the pan.
Add cream cheese and stir in until melted. Add monterey jack cheese and light cream and stir until melted.
Add bacon crumbles and cilantro, stirring through for a minute or so. Spoon sauce over chicken.