Wash wild rice -put about 3 cups of water in a saucepan, and being to a boil- turn down heat and add wild rice and cover. Keep at a slow boil for about an hour until rice is puffed up.
While rice is cooking, put butter in a large pot and saute chopped onion. Add the milk, water, and cream of potato soup. When this is hot add Velveeta Cheese in thin slices. When cheese is melted, add the ham.
When the rice is done, drain and add to the soup. Stir awhile and serve.