In a large pot over medium heat, bring water to a boil and add bouillon granules and broccoli, reduce heat and simmer broccoli for about 10 minutes. In a separate skillet over medium heat, melt the butter, add the onions and saute for about 5 minutes. Add the flour to the onions and stir well, forming a thick paste.
Gradually add the cream and stir until thick (I actually used a whisk, but that's just me, I like it really smooth). Add this mixture to the broccoli mixture in the pot and stir well. Add salt and pepper to taste. Add shredded cheese and Velveeta, stirring until melted.
(Tip for cheesy soups: do NOT let it boil! This will break down the cheese and it will become grainy. Just keep it on a low heat until the cheese is melted, then serve!)