Meanwhile, in 12-inch skillet, cook bacon over medium heat 6 to 8 minutes, stirring occasionally, until crisp. Drain on paper towels; set aside. Reserve 1 tablespoon drippings in skillet. Add onion, remaining 1/4 teaspoon salt and 1/4 teaspoon pepper. Increase heat to medium-high; cook 5 minutes, stirring frequently. Reduce heat to medium; cook 15 to 20 minutes longer, stirring occasionally, until onions are deep golden brown.