Pour cereal into a large mixing bowl. Lightly coat an 8x8-inch square pan with nonstick spray or line with foil.
Combine peanut butter and honey in a small saucepan. Warm gently over medium low until just melted, stirring to mix.
Pour the peanut butter mixture over the cereal. Using a silicone spatula, fold the cereal up over itself to mix well, completely coating all the pieces.
Press into the prepared pan. Cover and chill until firm. Slice and serve.
Nutrition information is an estimate based on online calculators and provided as a courtesy. Any nutritional information should be used as a general guideline only.