To a skillet, over medium heat, add the butter.
Once melted, add the onion and ground black pepper; stir and cook the onion for 3 to 5 minutes; don’t brown the onion; just cook it thoroughly.
Add the garlic; stir into the onion and butter mixture; cook for 1 minute.
Add the frozen corn; stir well and cook for 3 minutes; add the diced jalapeñoes; continue to cook for another 5 to 7 minutes.
Pour in the cream; stir into the corn and jalapeño mixture.
Spoon in the cream cheese and stir to combine; stir until the cream cheese is blended well into the corn.
Finally, turn off the heat and add the shredded cheddar cheese; stir until melted.
Serve with fresh lime wedges, if using.