1Cover lima beans with water in a large pot and soak overnight. Drain and return lima beans to the pot; cover beans with fresh water.
2Heat a large skillet over medium-high heat; cook and stir bacon until crisp, about 5 minutes. Reserve about 2 teaspoons bacon drippings and drain bacon on paper towels.
3Bring lima beans, bacon, and reserved bacon drippings to a boil. Reduce heat to medium-low and simmer until beans are just tender, 40 to 60 minutes. Stir heavy cream and butter into bean mixture and cook until thickened, about 15 minutes more. Season with salt and pepper.