The two brands, which are both based (and originated from) North Carolina, have previously worked together on a Cheerwine donut, so it's only a natural to do the reverse.
It's not quite a donut-flavored soda, but Cheerwine Kreme soda features Cheerwine mixed with a hint of Krispy Kreme Original Glaze.
According to tasters at the Charlotte Observer, the drink tastes like "cream soda with a cherry chaser" although those that didn't like it compared it to diet cream soda.
If you're in the area, you can find it at Krispy Kreme stores in North and South Carolina as well as at the following retail locations in the area: Bi-Lo, Food Lion, Harris Teeter, Ingles, Kroger, and Lowes Foods.
If you're not in the area, you can also purchase them online at $7.50 for a six-pack of 20-oz bottles from Cheerwine's online store.
Here's a video of how they came up with the soda flavor (sorta...):
Image via Cheerwine.