Brown bacon in nonstick skillet. Remove to paper toweling to drain. Drain off all but 1 tablespoon fat from skillet.
Add onion and scallops; cook, stirring, until scallops are white, 3 to 5 minutes. Remove.
Add mushrooms, snow peas and sherry to skillet; cover and cook 3 minutes. Combine cornstarch and water. Add to skillet; cook, stirring, until thickened. Stir in bacon and scallops. Stir in lemon juice and salt. Heat to serving temperature. Makes 4 servings.