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

Microwave chocolate chips, peanut butter and butter in 1-quart microwavable bowl uncovered 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 half of mixture into a gallon size storage bag; add 1/2 of the powdered sugar. Seal bag and shake until cereal is well coated. Spread on waxed paper to cool; store in airtight container in refrigerator. Repeat steps with other half of mixture.