Cook onions and half the red peppers in butter in large saucepan on medium heat 5 to 6 min. or until crisp-tender, stirring frequently.
Add cream cheese; cook on low heat 3 to 4 min. or until melted, stirring constantly. Stir in turkey, corn, broth and milk.
Cook 5 min. or until soup is heated through, stirring occasionally. Serve topped with remaining red peppers and black pepper.