Using a serrated knife, slice the bread diagonally in one direction about 1 inch apart. Be sure to slice almost all the way down to the bottom of the loaf but not all the way through.
Slice the bread in the opposite direction using the same technique.
Place loaf on a foil lined cookie sheet.
In a small bowl, combine melted butter and ranch dressing mix and stir.
Drizzle melted butter mix between each of the sections, making sure to get in-between each one.
Evenly distribute the chopped bacon and cheese between each of the sections.
Loosely cover bread with foil.
Bake for 15 minutes. Remove foil and bake for an additional 5 minutes.