Cut the stem off each jalapeno and cut in half lengthwise. Using a small spoon, scrape out seeds and membranes. In a small bowl, combine cream cheese, cheddar cheese, onion powder, garlic powder and pepper. Stuff into jalapeno halves. Wrap each jalapeno completely with bacon ensuring the cheese is covered. Secure with toothpicks. To grill: Place jalapenos on grill cut side down and grill just until bacon begins to crisp (about 6 minutes). Gently loosen bacon from the grill and flip jalapenos over. Reduce heat to medium-low and cook an additional 10-12 minutes or until bacon is cooked and cheese is melted. To bake: Preheat oven to 425 F. Place jalapenos on parchment lined pan and bake 18-23 minutes or until bacon is crisp and cheese is melted.