Delicious hot potato salad

Name: delicious hot potato salad
Cuisine: None

1 pound processed cheese (such as Velveeta) 8 baking potatoes (about 4 lb.) 1½ cups mayonnaise 1 cup half-and-half ½ cup chopped yellow onion 1 cup sliced pimiento-stuffed Spanish olives Vegetable cooking spray 6 bacon slices, cut into 2-inch pieces