In a large bowl, using an electric mixer, blend cream cheese, pepper jack, jalapeños, bacon bits, and sriracha sauce.
Using a Tablespoon-sized scoop, form into balls. Place on a baking sheet and freeze for 30 minutes.
Place flour in a medium bowl. Place beaten eggs in a separate bowl. In a third separate bowl, combine panko crumbs, bread crumbs, garlic powder, cayenne pepper, salt and pepper.
In a large pot, add oil. Set to medium heat. Check oil temperature (around 365-375 degrees F), or drop in a little bit of flour. Once it sizzles and rises to the surface, you are ready!
Remove cheese balls from freezer. Coat in flour mixture, then egg, and lastly into bread crumb mixture.
Fry several bites at once, for 30 seconds, until golden brown. Carefully remove to a paper towel-lined plate.