Heat oven to 350°F. Between pieces of plastic wrap or waxed paper, place each chicken breast smooth side down; gently pound with flat side of meat mallet or rolling pin until about 1/4 inch thick.
In small bowl, mix cereal, apricots and butter. Spoon half of cereal mixture on center of each chicken breast. Fold chicken in half horizontally over stuffing; secure with toothpicks. Place in ungreased 9-inch square pan.
In 1-quart saucepan, heat preserves and lemon juice over medium-low heat, stirring occasionally, until preserves are melted. Pour over chicken.
Bake 35 to 40 minutes or until juice of chicken is clear when center of thickest part is cut (170°F). Season to taste with salt and pepper.