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Stove-Top Directions: Into large bowl, measure cereal; set aside. In 1-quart saucepan, heat chocolate chips, peanut butter and butter over low heat, stirring frequently, until melted. Remove from heat; stir in vanilla. Pour mixture over cereal, stirring until evenly coated. Pour into 2-gallon resealable food-storage plastic bag. Add powdered sugar. Seal bag; shake until well coated. Spread on waxed paper to cool. Store in airtight container in refrigerator.