Pour Chex Vanilla Cereal into a large bowl.
Microwave white chocolate chips for 30 seconds, stir, then repeat another 30 seconds until fully melted. (repeat again if necessary, but be aware that white chocolate burns very, very easily)
Pour melted white chocolate into the bowl of cereal. Gently mix the white chocolate with the cereal, being careful not to break the cereal. (I used a flat wooden spoon)
Add cranberries to the mixture, then mix carefully.
Add mixture into a gallon plastic bag, then add powdered sugar.
Seal bag, then shake until the powdered sugar is evenly distributed.
Pour mix onto a sheet of wax paper to fully cool. Store in an airtight container.