In a deep saute pan, melt the butter. Add the bacon and onions. Saute the mixture until the bacon is crispy, about 2 minutes. Add the peas and rice. Saute for 1 minute. Using a wooden spoon, stir in 1 cup of the stock at a time, until all the stock is incorporated, about 35 minutes. Stir in the cream and grated cheese. Season with salt and pepper. Mound the risotto in the center of the platter. Garnish with grated cheese, long and chopped chives. Serve with crusty bread.