Combine olives, mushrooms, bacon, onions and pepper in small bowl; set aside.
Melt margarine in 2-quart microwave-safe casserole on HIGH 1 minute. Stir in olive mixture. Microwave on HIGH 1 minute. Add whipping cream, cheese and eggs; mix well. Microwave on HIGH 3 to 5 minutes, stirring every minute or until sauce is thickened. Pour over linguine; toss well.