Place Chex cereal in a large mixing bowl and set aside.

In a microwave-safe bowl, combine white chocolate chips and unsalted butter. Microwave in 30-second intervals, stirring between each, until smooth.

Stir in cherry gelatin mix until fully combined.

Pour the cherry cheesecake mixture over the Chex cereal. Gently fold until all cereal pieces are evenly coated.

In a large zip-top bag, combine powdered sugar and cheesecake pudding mix.

Add the coated cereal to the bag, seal, and shake until all pieces are well coated.

Spread the coated cereal on a baking sheet lined with parchment paper to cool and set.

Once cooled, stir in chopped dried cherries.

Store in an airtight container at room temperature for up to a week.