Melt the butter in a large non-stick or well seasoned iron skillet.
Add the onion, sweet and hot peppers, celery, salt and pepper, and saute over medium heat for about 5 minutes. The vegetables should be getting somewhat soft, but not browned. Keep stirring and lower heat if needed.
Stir in the cumin and smoked paprika, and cook for about 30 seconds to bloom the spices.
Stir in the corn, cover the pan and bring up to a light simmer. Cook 8 minutes.
Stir in the cream and cream cheese. Simmer for 3 to 4 minutes.
Top with chopped cilantro [optional] and serve hot.
Notes
About the hot peppers: The spice level in various peppers can vary quite a bit, so if serving kids or people who don't like very spicy food, err on the side of caution, and use a small amount of hot peppers. You can always have hot sauce on hand for those who like a high level of heat.Refrigerate leftovers and reheat over low heat to prevent the sauce from breaking