1In 2-quart saucepan, melt butter over medium heat. Add onion and bell pepper; cook 3 to 5 minutes, stirring occasionally, until crisp-tender.
2Stir in flour. Gradually add milk, stirring constantly, until mixture is boiling.
3Stir in remaining ingredients. Cook 5 to 10 minutes, stirring occasionally, until corn is tender. Serve soup topped with cheese if desired.