Melt butter in heavy medium saucepan over medium heat. Add garlic and cumin; sauté 1 minute. Mix in rice. Add broth and frozen corn and bring to boil, stirring frequently. Reduce heat to medium-low and cook until rice is tender and mixture is slightly thick and creamy, stirring frequently, about 20 minutes.
Add cream and cheese and stir until mixture is heated through. Season to taste with salt and pepper. Sprinkle with chopped cilantro.