In a large saucepan bring 4 cups of the broth to boiling. Stir in orzo. Cook about 8 minutes or until tender; drain. Return orzo to hot pan; cover and keep warm.
Meanwhile, in a 4-quart Dutch oven cook bacon over medium heat until crisp. Remove bacon with a slotted spoon and drain on paper towels, reserving 2 tablespoons drippings in Dutch oven.
Add onions to the reserved drippings; cook about 4 minutes or until tender. Add sage and garlic; cook and stir for 1 minute. Add squash and remaining 1/2 cup broth. Bring to boiling; reduce heat. Simmer, covered, for 10 to 15 minutes or until squash is tender. Cook, uncovered, until most of the liquid is evaporated, stirring occasionally. Stir in cooked orzo and bacon.