Marinate the Steak: In a bowl, combine olive oil, lime juice, chili powder, cumin, garlic powder, onion powder, salt, and pepper. Let it marinate for at least 30 minutes.
Prepare the Vegetables: While the steak marinates, slice the bell peppers and onion.
Grill the Steak: Preheat your grill or a grill pan over medium-high heat. Add the marinated steak and cook for about 4-5 minutes on each side, or until desired doneness is achieved. Remove from grill and let it rest.
Grill the Vegetables: In the same grill or pan, add the sliced bell peppers and onions. Cook for about 5-7 minutes, stirring occasionally, until they are tender and slightly charred.
Combine and Serve: Slice the rested steak into thin strips and mix with the grilled vegetables. Serve the mixture in warm tortillas, garnished with fresh cilantro and lime wedges.