Add sour cream and cream cheese to a medium mixing bowl. Beat to combine until smooth. Add one envelope of taco seasoning - mixing until combined.
Spread into bottom of 9x9 baking dish and refrigerate while you're browning the beef.
Then In a large skillet, brown ground beef over medium heat until no longer pink. Drain excess grease. Add water and one envelope of taco seasoning. Cook until thickened. Cool slightly.
Spread ground beef mixture over cream cheese.
Top ground beef layer with shredded cheese, diced tomatoes and onions, cilantro and olives. Serve with your favorite chips and enjoy!