Becoming a Cook: Muddy Buddies

You know it's Christmastime when you bust out the muddy buddies.  I LOVE them!  

1 cup semisweet chocolate chips
1/4 cup peanut butter
1/4 cup butter/margarine
1 tsp. vanilla
9 cups Chex cereal (Any kind, but we never eat the corn kind, so we used that for this)
1 1/2 cups powdered sugar

1. In 1-quart microwavable bowl, microwave chocolate chips, peanut butter, and butter 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, about 30 minutes.  Store in airtight container in refrigerator.