Preheat oven to 350 degrees F. Generously grease a 10-inch fluted tube pan or tube pan; set aside.
In a medium bowl stir together dressing mix and butter; set aside. With scissors, cut each biscuit into fourths. Toss biscuit pieces, several at a time, in butter mixture. Layer biscuit pieces, cheese and bacon in the prepared tube pan; press lightly.
Bake about 30 minutes or until golden and a wooden toothpick inserted near the center comes out clean. Let stand in pan for 10 minutes. Invert onto a large serving platter. Serve warm.