Velveeta® Hot Potato Salad

Ingredients

• 1 pound Velveeta cheese
• 8 baking potatoes
• water, to taste
• 1 1/2 cups mayonnaise
• 1 cup half-and-half
• 1/2 cup yellow onion, chopped
• 1 cup pimiento-stuffed Spanish olives, sliced
• salt, to taste
• black pepper, to taste
• 6 slices bacon, cut into 2-inch-long pieces