1. In a large pot, heat first amount of oil over moderate heat. Add the pancetta and cook about 4 minutes per side until golden brown. Remove and drain on a paper towel.
2. Add remaining oil to the pot. Add the onions and cook 8 to 10 minutes over moderate heat until translucent, stirring occasionally. Add the squash, salt, pepper, and thyme. Cook; stirring for 5 minutes.
3. Add the apples (such as Granny Smith), vegetable broth (or chicken), and water, and bring to a boil over high heat. Reduce heat to low, and simmer, covered, 15 to 20 minutes, or until squash and apples are tender. Remove from the heat and cool slightly.
4. Working in batches, purie the soup until smooth in a blender or food processor. Alternatively, use a handheld immersion blender to purie. Add the mixture back to the pot and bring to a simmer over moderate heat. Crumble the pancetta and add half to the soup; taste for seasoning.
5. Serve piping hot with the remaining pancetta sprinkled on top.
Source: Hannaford fresh Magazine, September - October 2006