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1. Preheat oven to 350 degrees and line pans with cupcake liners.
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2. Sift cake mix into a small bowl and set aside.
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3. In a large bowl, combine eggs, oil, milk, sour cream and vanilla extract.
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4. Stir in cake mix until smooth.
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5. Fold in M&M's. Don't overmix because the coloring from the candies will dye the cake.
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6. Fill cupcake liners 3/4 full and bake for 17-22 minutes or until an inserted knife comes out clean.
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7. Peanut Butter Frosting: Beat peanut butter and butter until smooth. Add vanilla extract and slowly add powdered sugar. The frosting will become chunky. With the mixer on low add milk 1 Tbsp at a time until the frosting becomes "fluffy" and smooth. Add more powdered sugar if needed or more milk.
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8. Pipe onto cooled cupcakes an top with extra candies.