Philly Steak & Potato Skillet

1 lb. boneless beef sirloin steak, cut into strips
1 medium onion, sliced
1 Tbsp. vegetable oil
1 pkg. (10.52 oz.) VELVEETA Cheesy Bacon Scalloped Potatoes
1/2 cup milk

Cook and stir steak and onion in hot oil in large skillet on medium-high heat until steak is evenly browned.

Add Potatoes, milk and 2-1/2 cups hot water. Bring to boil. Reduce heat to medium-low; simmer, uncovered, 12 to 15 minutes or until potatoes are tender, stirring occasionally.

Stir in Cheese Sauce and Bacon until well blended.

Total Time: 30 min
Makes: 5 servings, about 1-1/4 cups each