8 c. Chex cereal
6 oz. semi-sweet chocolate chips
1/2 c. peanut butter
1/4 c. butter
1 tsp. vanilla
1 1/2 c. powdered sugar

Measure cereal into large bowl; set aside. Microwave chocolate chips, peanut butter and butter in 1-quart bowl on High for 1 minute; stir. Microwave 30 seconds longer or until mixture can be stirred smooth. Stir in vanilla. Pour chocolate mixture over cereal in bowl, stirring until evenly coated. Pour into large plastic Ziploc bag; add powdered sugar. Seal bag; shake until well coated. Spread on waxed paper to cool. Store in airtight container in refrigerator.