Fabulous Caramel Clusters

1 (14 oz) package caramels, about 50

¼ c. water

6 cups rice chex cereal

2 c. chopped pecans

Unwrap caramels. Heat caramels and water in large microwave safe bowl for 2 minutes, stir. Heat for an addition 2 minutes or so, stirring every 30 seconds until melted. Add cereal and pecans and toss to coat evenly. Pour into a greased 15 x 10 x 1 pan. Heat oven to 300 degrees. Bake for 15 minutes, stir and bake for another 10 minutes. Pour onto waxed or parchment paper. Cool. Break into chunks.