Heat the olive oil over medium-high heat in a 10-inch nonstick skillet. Add peppers and onions along with a good pinch of salt. Cook for a few minutes, until softened to your liking. Meanwhile, scramble the eggs in a medium bowl.
Reduce heat to medium-low. Pour eggs into the skillet and cook, stirring frequently, until set. Divide between two plates and top with cheese, cilantro, hot sauce to taste as well as more salt if you like and some freshly ground black pepper.