1 cup semisweet chocolate chips
1/2 cup peanut butter
1/4 cup butter or margarine
1 teaspoon vanilla
1 1/2 cups powdered sugar
Microwave about 30 seconds longer or until mixture can be stirred smooth.
Stir in vanilla.
Pour mixture over cereal, stirring until evenly coated.
Pour the cereal mixture into 2-gallon ziploc bag or an empty ice cream bucket will work too!