1In large microwavable bowl, mix cereals, potatoes, crackers and bacon flavor bits.
2In small microwavable bowl, microwave butter uncovered on High about 30 seconds or until melted. Pour over cereal mixture; stir until evenly coated. Stir in dressing mix and cheese until evenly coated.
3Microwave uncovered on High 3 minutes, stirring after each minute. Spread on waxed paper or foil to cool. Store in airtight container.