Preheat oven to 350 degrees. In large mixing bowl, combine cake mix, pudding mix, sour cream, eggs, water, and oil; beat until blended, about 2 minutes. Stir in chocolate chips. Pour batter into a greased bundt pan or greased 13x9x2 pan. Bake 1 hour. Remove from oven; cool. Sprinkle with powdered sugar.