Hi AlmostaCowgirl,
I have a recipe that's close and can be adapted.
Uncle Ed's Favorite Cheese Soup
(From Three Rivers Cookbook - Pittsburgh)
Ingredients:
5 slices bacon
1/2 C grated carrot
1/2 C finely chopped celery
1/2 C finely chopped onion
1/2 C finely chopped green pepper
1/4 C flour
4 C chicken or beef broth (or combination)
***3 C shredded Old English cheese
2 C milk
2 Tbsp. dry sherry
5 oz. pimento stuffed olives, sliced
coarsely ground black pepper
parsley to garnish
*** Kraft no longer makes this product. They carry it in a soft srpead jar, but the original was a block like Velveeta. Kraft informs me that they changed the Old English to cheddar. It is a smaller portioned block, and does not have the Velveeta consistency. I haven't tried it yet, but I'm hoping it has similar melting texture as Velveeta. If not, I'm going to use Velveeta and add some dry mustard.
Instructions:
In a large saucepan cook bacon until crisp. Drain in paper towel and crumble. Saute carrot, celery and green pepper in bacon drippings on low heat until tender but still crisp - do not brown. Blend in flour, then gradually add broth. Cook over low heat until mixture thickens and boils. Cook for 5 minutes. Add cheese and stir until cheese is melted. Stir in milk, sherry and olives. Season to taste with pepper. Serve garnished with crumbled bacon and parsley.
Personal notes: I add more bacon because I like the smokey flavor. I see no reason why you couldn't add cooked, diced red potatoes to the recipe. You may want to add a little more broth to offset the additional starch.
Let me know how it turns out. Good luck!