Mix chicken, 2 tablespoons corn starch and the sherry in a medium bowl; set aside.
Cook bacon in 4-quart pot over medium heat for about 4 minutes or until browned and crisp; drain on paper towels. Spoon off all but 2 tablespoons of the bacon drippings. Add chicken to pot and cook, stirring quickly, for 3 minutes or until no longer pink.
Blend remaining 2 tablespoons of corn starch with 1/4 cup cold water. Add the cornstarch mixture, chicken broth, corn, and soy sauce to the chicken. Heat to boiling, stirring constantly; reduce heat and simmer 5 minutes.
Ladle soup into bowls; crumble bacon over individual servings.