Remove shrimp tails; set shrimp aside. Combine shrimp tails, 1 1/2 cups water, and next 3 ingredients in a saucepan; bring to a boil. Reduce heat, and simmer, uncovered, 10 minutes. Strain broth mixture through a sieve into a bowl; discard solids.
Heat olive oil in a medium saucepan over medium-high heat. Add bell pepper, yellow onion, and garlic; sauté 3 minutes. Add reserved broth; bring to a simmer. Add shrimp, peas, and next 3 ingredients; cook 5 minutes or until noodles are done. Ladle 1 1/4 cups soup into each of 4 bowls; top each serving with 1 1/2 teaspoons cilantro. Serve with lime wedges.