Mix dry ranch seasoning and sour cream until blended. Add bacon bits, stir well. Add 2 cups of the shredded cheddar cheese. Mix well. Add remainder of shredded cheddar cheese, 1 cup at a time, mixing after each addition so sour cream mixture can be mixed well.
Pour into serving dish and refrigerate for at least 2 hours to allow flavors to "marry".
Serve with corn chips.