1. Cook bacon, onion, and garlic in large saucepan over med. heat 5 min., or until vegetables are tender.
2. Add peas with liquid, broth, 1/2 Cup water, pepper sauce, thyme and bay leaf. Bring to a boil.
3. Reduce heat to low; cook, uncovered, 15 min., stirring occasionally.
4. Remove and discard bay leaf.
5. Combine rice and parsley in med. bowl.
6. Spoon rice evenly into 6 serving bowls.
7. Ladle soup over rice.