Muddy Buddies

1 tsp. vanilla
1 1/2 c. powdered sugar
1/2 c. creamy peanut butter
1 c. semisweet chocolate chips
1/4. c. margarine or butter
9 c. Chex cereal, any variety

Measure cereal in large bowl, set aside. Microwave Chocolate Chips, peanut butter and margarine in 1 Qt. microwavable bowl, uncovered on high for 1 minute. Stir, then microwave 30 seconds longer or untill mixture can be stirred smoothly. Stir in vanilla. Pour Chocolate mixture over cereal in large bowl, stir untill well coated. pour into large plastic bag add powdered sugar shake to mix till well coated. Spread on wax paper to cool, store in air tight container.