Whisk together chicken soup and milk in a large mixing bowl. Stir in chicken broth. Set aside.
In a large dutch oven, sauté diced onion in 1 tablespoon olive oil until onions are soft and translucent; about 5-8 minutes.
Add the soup/milk/chicken broth mixture to the vegetables and stir to combine.
Add peas, carrots and mushrooms.
Stir in ranch seasoning, minced garlic and garlic powder.
Add cubed cream cheese and stir to combine with the soup. Continue to stir and heat over medium heat until cream cheese has completely melted.
Stir in shredded chicken and diced bacon. Reserve a little bacon to use as garnish.
Increase heat and bring soup to a good simmer. Simmer for 10-15 minutes.
Break pasta into 2-3 inch lengths and add to the soup.
Cook for 7-10 minutes until pasta is soft.
Add shredded cheddar cheese and stir until cheese is melted and soup is heated through.
Serve topped with diced bacon bits and shredded cheddar cheese.