In a large, microwave-safe bowl, melt chocolate on high for 1 minute. Stir and heat another 30 seconds on high or until melted.
Stir peanut butter into melted chocolate.
Add Crispix cereal into mixture and stir gently until cereal is well-coated.
Pour powdered sugar into a 2-gallon ziplock bag and then add cereal mixture into powdered sugar. Gently toss the cereal and sugar mixture until well-coated.
Store in airtight bag or container and place in the refrigerator or freezer (we prefer keeping it in the freezer).
Serve after candy has chilled and set.
