Chex Muddy Buddies

9 cups of your favorite Chex brand cereal (corn, rice and/or wheat)
1 cup semi-sweet chocolate chips
½ cup peanut butter
¼ cup margarine or butter
1 tsp. vanilla extract
1 ½ cups powdered sugar

Combine chocolate chips, peanut butter and margarine in 1 quart microwave safe bowl.
Microwave on HIGH 1 to 1 ½ minutes or until smooth, stirring after 1 minute. Stir in vanilla.
Pour chocolate mixture over cereal, stirring until all pieces are evenly coated. Then pour cereal mixture into large resealable plastic bag with powdered sugar. Seal securely. Shake until all pieces are well-coated. Store in airtight container.

Makes 9 cups.

This is my most requested recipe. I got it off the Chex cereal box. I first learned about this recipe from Julie Cole.