Sauté bacon in large skillet over medium heat. When bacon is crisp, remove with slotted spoon and drain on paper towels.
Using the same pan, pour off all but 1 tablespoon bacon drippings, add olive oil and sauté garlic and shallots for 2 minutes. Add peas and basil. Cook 4 to 5 minutes until peas are heated through.
Just before serving, add cooked bacon and season with salt and pepper.
Notes
If you are preparing this recipe as gluten-free, just be sure to use a brand of bacon that is known to be GF.