Heat oil in 3-quart saucepan over medium heat until hot. Add bell pepper and onion; cook and stir 2 to 3 minutes or until crisp-tender.
Add all remaining ingredients except sour cream and cilantro; mix well. Cook over medium heat for about 5 minutes or until thoroughly heated, stirring frequently. Top individual servings with a dollop of sour cream. Sprinkle with cilantro.