Heat oven to 300°F. In large bowl, mix cereal and soy nuts.
In small bowl, mix oil, vinegar, garlic powder and Italian seasoning. Pour over cereal mixture, stirring to coat. Stir in popcorn until well mixed. Spread in ungreased large roasting pan.
Bake uncovered 15 minutes. Stir in cheese until well mixed. Bake 10 to 15 minutes longer or until mixture is toasted. Spread on waxed paper to cool, about 10 minutes. (Cereal will crisp as it cools.) Store in airtight container.