In a large pot, heat the olive oil over medium heat. Add the diced onion and sauté until translucent, about 5 minutes. Stir in the minced garlic and cook for an additional minute until fragrant.

Add the corn kernels to the pot and stir well. Cook for about 3-4 minutes, allowing the corn to soften slightly.

Pour in the vegetable or chicken broth, then add the chili powder, cumin, smoked paprika, salt, and pepper. Bring the mixture to a boil, then reduce the heat and let it simmer for 15 minutes.

Using an immersion blender, blend the soup until smooth. If you prefer a chunkier texture, blend only half of the soup and leave the rest as is.

Stir in the heavy cream and let the soup simmer for an additional 5 minutes.

Remove the pot from heat and stir in the crumbled cotija cheese, chopped cilantro, and lime juice. Adjust seasoning with salt and pepper if needed.

Serve hot, garnished with sliced jalapeños and extra cotija cheese.