Alternative recipe for pearl onions

I love creamed onions, though I seldom make them other than at Thanksgiving, but today I noticed this while perusing The Maple Syrup Cookbook. It called for medium boiling onions but I am going to adjust the times to use a thawed bag of frozen pearl onions.

1# onions
3 bacon slices
1/2 c water
1 t soy sauce
1 bay leaf
1/4 t dry thyme
2 T pure maple syrup

Cook the bacon in a skillet till crisp, drain slices on paper towels, crumble and reserve. Add onions to the skillet, stir to coat, medium heat, partly covered, 5 minutes with occasional stirring. Add next 4 ingredients, cover, reduce heat a bit, braise 10-15 minutes till onions are almost done and just a little liquid is left. Stir in the syrup, stir over higher heat till a glaze forms, add the bacon.