Season the steak strips with chili powder, salt, and pepper. Heat 1 tablespoon olive oil in a large skillet over medium-high heat and sear the steak strips for 2-3 minutes per side until browned. Remove from skillet and set aside.

In the same skillet, add the remaining olive oil and diced onion. Sauté for 3-4 minutes until softened and fragrant.

Stir in the rice and cook for 1-2 minutes, then add the chicken broth. Bring to a boil, reduce heat to low, cover, and simmer for 15 minutes until rice is tender and liquid is absorbed.

Remove lid, gently stir in shredded cheese and queso sauce until the rice becomes creamy and the cheese is fully melted.

Return steak strips to the skillet, nestling them into the creamy queso rice. Heat through for 2-3 minutes, then garnish with fresh cilantro before serving.