In a large pot, preferably one with a thick bottom like a Dutch oven, place the chicken, pasta, chicken broth and milk. Bring to a boil over medium heat, stirring frequently.
Reduce heat to medium low and cover the pot. Cook for 10 minutes, stirring occasionally.
Stir in the asparagus and cook for another 5-10 minutes. You want the pasta and asparagus to be cooked to your liking.
Remove from heat and stir in bacon and cheese. Season to your liking and serve.