COOK spaghetti as directed on package.
MEANWHILE, cook and stir bacon and onions in large skillet on medium-high heat 8 min. or until bacon is crisp and onions are tender, stirring occasionally. Remove from skillet; drain. Wipe out skillet.
DRAIN spaghetti. Immediately add to skillet with all remaining ingredients; toss until cream cheese is completely melted and mixture is well blended.