When its with the cereal, it would be a sauce
noun
thin soup of concentrated meat or fish stock.
water that has been boiled with meat, fish, vegetables, or barley.
Bacteriology.
a liquid medium containing nutrients suitable for culturing microorganisms.
noun
any preparation, usually liquid or semiliquid, eaten as a gravy or as a relish accompanying food.
noun
any potable liquid, especially one other than water, as tea, coffee, beer, or milk