Heat oil in a Dutch oven over medium heat. Add onion to pan; cook 5 minutes or until tender, stirring occasionally. Stir in potato and next 5 ingredients. Bring to a simmer; cook, covered, 20 minutes or until vegetables are tender.

Place 3 cups of vegetable mixture in a blender. Remover center piece of blender lid; secure blender lid on blender. Place a clean towel over opening in blender lid. Blend until smooth. Return to pan. Stir in cream, pepper, and salt.

Preheat broiler, top with cheese, and broil until soft and mushy