Mix all ingredients in a microwave safe container, cover and begin to heat for 1 minute at a time until cheese is melted.
Stir and microwave for an additional 1 1/2 minutes.
Cut the top off the bread and remove the center to form a bowl.
Cut the removed bread into cubes for dipping.
Fill the bread bowl with the dip.
Usually serve with crackers as well, for dipping.