Blend together black beans, sour cream, cream cheese, green chilies, and salsa in a food processor until smooth. Fold in 1 cup of cheese and pour into a baking dish.
Top with ½ - 1 cup more cheese. Cover with foil and bake for 15 minutes.
Take off the foil and bake for an additional 15 minutes. Top with chopped tomatoes, cilantro, and olives.