Heat olive oil in large saucepan over low heat. Add leeks and thyme and cook covered for 10 minutes or until softened. If leeks begin to stick, add splash of water.
Place the diced bacon in a large frying pan over medium heat. Cook until crispy. Set aside.
Once leeks have softened, add lima beans, vegetable broth and mustard. Bring to a simmer and cook for 10 minutes.
Blend the soup until smooth. Season with salt and pepper to taste.