1 cup semisweet chocolate chips
1/2 cup peanut butter
1/4 cup butter
1 teaspoon vanilla
9 cups Chex cereal
1 1/2 cups powdered sugar

1. In 1-quart microwaveable bowl, mix chocolate chips, peanut butter and butter. Microwave uncovered on High 1 minute, stir. Microwave 30 seconds longer or until mixture can be stirred smooth. Stir in vanilla.

2. In large bowl, place cereal. Pour chocolate mixture over cereal, stirring until evenly coated. Pour into 2-gallon food-storage plastic bag.

3. Add powdered sugar. Seal bag; shake until well coated. Spread on waxed paper to cool.