Peanut Butter Snowballs

2 C creamy peanut butter
2 T butter, softened
2 C powdered sugar
2 C crispy rice cereal
16 oz. package milk chocolate, chopped( can use white for the snowballs but we prefer milk)
Blend peanut butter, butter and powdered sugar. Ad cereal, mix well. Shape into teaspoon size balls. Set balls on waxed paper and freeze overnight.Melt chocolate in a double boiler and dip each ball. Can place back in the freezer or leave out to serve.