This is really, really, good and very easy!
Chocolate Peanut Butter Cake
2 cups flour
1 3/4 cups sugar
2/3 cup cocoa
1 1/2 teaspoons baking powder
1 1/2 teaspoons baking soda
1/2 teaspoon salt
1 cup milk
1 cup water
1/2 cup vegetable oil
2 eggs
2 teaspoons vanilla extract
1 - 11oz package NESTLE Peanut Butter & Milk Chocolate Morsels (divided)
Frosting
1 8oz package cream cheese
1 teaspoon vanilla extract
1/8 teaspoon salt
3 cups confectioners sugar
In large mixing bowl combine flour, sugar cocoa, baking powder, baking soda and salt. Add milk, water, oil, eggs and vanilla. Blend until moistened. Beat for 2 mins. Batter will be thin. Pour into two greased and floured 9" pans. Sprinkle tops of each pan with 1/3 cup (Each) chips. Bake at 350 for 25 - 30 mins or until tests done.
Cool in pans on wire racks 10 mins, remove to wire racks to

completely
In a small microwave safe bowl melt remaining morsels on med-high for 1 min. Microwave at additional 10 sec. intervals stirring until smooth. In a med mixing bowl beat cream cheese, melted morsels, vanilla and salt until light and fluffy. Gradually beat in confectioners' sugar. Spread frosting between layers and on top and sides of cake.