Warm Cheddar-Vidalia Onion Dip

I got this from Family Circle magazine. I haven't made it yet but it sounds so good!

• Ready In: 45 mins
• Serves: 12

Ingredients

• 1  large  vidalia onion, finely chopped (about 3 cups)
• 4  ounces monterey jack pepper cheese, shredded
• 8  ounces low-fat cheddar cheese, shredded
• 4  ounces light cream cheese
• 1⁄2 cup light mayonnaise
• 1⁄4 teaspoon dried thyme

Directions

1. Heat oven to 375°F.
2. Place 2 cups onion in a bowl.
3. Place shredded cheeses, cream cheese, mayonnaise, thyme and remaining 1 cup onion in bowl of food processor.
4. Process until fairly smooth.
5. Mix with onion in bowl.
6. Spoon into shallow 6-cup baking dish.
7. Bake at 375°F for 20 minutes.
8. Stir and bake 10 more minutes.
9. Cool slightly.
10. Serve with crackers or toast.