Combine, cream cheese, butter, pimento cheese, sharp cheddar and smoked paprika in a bowl and mix with a mixer. Once combined, line a bowl with saran wrap and add cheese mixture to the bowl. Chill in refrigerator for an hour, then remove and use form into a ball. Roll ball in bacon bits and serve with Ritz crackers. I used real bacon bits because it cuts down on the grease of fresh made bacon.