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1.
A variety of breakfast cereal similar to Weetbix, though containing the hearty helping of lol that Weetbix lacks.

Can also apply to biscuits (cookies) by extension.
"What are you having for breakfast?"

"Oh, we ran out of Weetbix, so I'm having a big bowl of lolbix instead".
af lolbixation 17. marts 2010