In large microwavable bowl, measure cereal and nuts; set aside.
In 2-cup microwavable measuring cup, microwave butter on High 30 seconds; stir and microwave 30 seconds longer or until butter is melted; stir in brown sugar, corn syrup, and spices. Heat until boiling, about 30 seconds. Pour over cereal mixture, stirring until evenly coated.
Microwave uncovered on High about 3 minutes, stirring every minute, until mixture is glazed. Cool 5 minutes, stir in cranberries. Spread on waxed paper to cool. Store in airtight container.