In a large skillet on medium heat, fry the bacon for 2-3 minutes, stirring frequently. Add the chopped onion. Stir until bacon is cooked and onion is soft. Drain off the bacon fat (or leave about 2 Tbsp in the pan for extra flavor).
Add the 2 cans of chili beans (do not drain), salsa, cumin, and chili powder. Mix together; salt to taste.
Heat on medium low for about 15 minutes.
Stir in chopped cilantro. Serve!
Toppings:
Add these toppings: Chopped red onions or green onions, sour cream, more salsa, chopped tomatoes, black olives, jalapenos, chips.