In a large bowl, measure cereal and set aside.
In a small saucepan combine butter, white chocolate chips, heavy whipping cream and sweetened condensed milk over medium heat.
Continue stirring until smooth, add the pudding mix and stir to combine.
Remove from heat and stir in the vanilla.
Pour over cereal and carefully stir to coat.
Toss with powdered sugar,if you add a 1/2 C at a time than you will reach your desired “coating” of powdered sugar.
Spread onto a baking tray until cooled completely.
Store in an airtight container.