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Preheat oven to 350 degrees.
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Cut squash in half lengthwise and scoop out seeds and pulp.
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Pour 2 cups water into baking dish, and place squash halves into water, cut side down.
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Bake for 1 hour or until tender.
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Set aside to cool.
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When squash is cool, cook diced onions in butter over medium heat in large saucepan until onions are softened.
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Add chicken broth and simmer for 10 minutes.
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Scoop out squash flesh from the skin, and add to onion/broth mixture.
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Puree in batches in food processor or blender till smooth.
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Return soup to saucepan; cook over medium heat until hot.
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Add milk, salt and pepper to taste.