1. Bring a large pot of lightly salted water to a boil. While waiting for water to boil, grate cheese and chop onion. Drop in pasta when water reaches a rapid boil.
2. While pasta cooks (about 10 minutes), prepare bacon on top of stove or in the broiler. While bacon is cooking, warm olive oil in a small heated skillet. Cook onion until soft and translucent.
3. Drain hot pasta and pour into serving bowl. Stir in cheese, onion, basil, and peas. Crumble in 6 strips of bacon and mix gently; reserve 1 strip for garnish. Add salt and pepper as desired. Top with extra Parmesan and last strip of crumbled bacon. Serve immediately.
Variation: Use soy bacon for less fat.
Note: Parmesan cheese and bacon tend to be salty, so you may not need much salt to season this dish.