Preparation Melt butter in heavy large saucepan over medium heat. Add onion. Cover and cook until golden, stirring occasionally, about 15 minutes. Add rice, porcini, 1 cup porcini soaking liquid, 3 1/2 cups broth and Cognac. Bring to boil. Reduce heat to medium-low; simmer uncovered until rice is tender and mixture is creamy, stirring occasionally and adding broth if dry, about 20 minutes. Season with salt and pepper. Pass cheese separately.