Chili's Queso Dip

This is one of my favorite things to eat at Chili's. Sometimes I will just order a side salad and chips and queso for dinner. It's THAT good. :0)

1 16-ounce box Velveeta Cheese
1 15-ounce can Hormel Chili (no beans)
1 cup milk
4 tsp. chili powder
2 tsp. paprika
1 Tbsp. lime juice
1/2 tsp. ground cayenne pepper
1/2 tsp. ground cumin

Cut the Velveeta into cubes. Combine the cheese with the remaining ingredients in a medium saucepan over medium heat. Stir frequently until cheese melts, then reduce heat and simmer for 20 minutes. Serve hot with tortilla chips for dipping.