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In 2-cup (500 mL) microwavable measuring cup, microwave butter and honey uncovered on High 1 to 2 minutes, stirring every 30 seconds, until mixture comes to a full boil and butter is melted. Pour over cereal mixture, stirring until evenly coated. Microwave uncovered on High 2 to 4 minutes, stirring every minute, until mixture is well coated and looks glazed.