1/2 cup butter
1 cup creamy peanut butter
2 cups milk chocolate chips
1 package Chex cereal
1 pound powdered sugar

Place Chex cereal in a large bowl and set aside. Place chocolate chips, peanut butter and butter in a saucepan. Melt until smooth. Pour chocolate mixture over the Chex mix and stir gently until coated. Stir in powdered sugar until coated. Enjoy.