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1. Preheat the oven to 350 degrees.
2. Add the potatoes to a large pot of rapidly boiling, salted water.
3. Boil for approximately 20 minutes or until fork tender.
4. Remove the potatoes from the water and set aside to cool.
5. Place the bacon in a large, deep skillet.
6. Cook over medium high heat until crisp.
7. Drain, crumble and set aside.
8. Peel and cube the cooled potatoes.
9. Transfer the potatoes to a large bowl.
10. Add the mayonnaise, salt, pepper, cheese and onion to the potatoes and mix well.
11. Spray a 9x11 inch baking dish with non stick cooking spray.
12. Place the potato mixture in the baking dish.
13. Top with the crumbled bacon and the olives.
14. Bake uncovered for 40 minutes.
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