In a large pot, saute bacon bits over medium high heat. Spoon out bacon, leaving the grease in the pot, and place the cooked bits on a paper towel.
Saute onion in bacon grease for about 2-3 minutes.
Add half of the bacon back in and add in butter.
Once the butter has melted whisk in flour and cook for 1 minute.
Slowly pour in milk, continually whisking to prevent lumps. Mixture should thicken slightly.
Once it's smooth, stir in the cream, cream cheese and Parmesan cheese.
When the cream cheese is melted and mixture is smooth stir in corn, salt and pepper.
Turn heat down to low to prevent scalding and simmer for about 10 minutes, stirring often.
Garnish with remaining bacon bits and serve hot.