Bacon Ranch Pea Salad

Place bacon in a skillet over medium-high heat, and cook until evenly brown. Drain, crumble, and set aside. Bring the water to a boil in a pot. Boil the peas 1 minute, until just tender, and drain. Cool peas under cold running water. In a bowl, toss together bacon, peas, onion, Ranch dressing, and Cheddar cheese. Refrigerate 30 minutes or until chilled before serving.