Heat oil in a large saucepan over medium-high heat. Add garlic; sautÃ© 1 minute. Stir in water chile powder, cumin, beans, green chiles and salsa. Bring to a boil; reduce heat and simmer 1 minute.
Place 3 cups of soup mixture in a blender or food processor; process until smooth. Return pureed mixture to pan. Stir in lime juice; simmer 10 minutes. Remove from heat; stir in cilantro. Sprinkle each serving with cheese and serve.