In a large bowl, pour boiling water over cereal. Add the butter and salt. Let stand until mixture cools to 110°-115°, stirring occasionally. Add the sugar, egg, yeast and 2 cups flour. Beat until smooth. Stir in enough remaining flour to form a soft dough.
Turn onto a floured surface; knead until smooth and elastic, about 5 minutes. Cover and let rest for 10 minutes.
Roll to 1/2-in. thickness. Cut with a floured 2-1/2-in biscuit cutter. Place 2 in. apart on lightly greased baking sheets. Cover and let rise in a warm place until doubled, about 1 hour.
Bake at 375° for 15-20 minutes or until golden brown. Remove from pans to wire racks. Serve warm.