Preheat oven to 350 degrees F (175 degrees C). Grease and flour a 10 inch Bundt pan. Have all ingredients at room temperature.
In a large bowl, stir together cake mix and pudding mix. Make a well in the center and pour in eggs, sour cream, oil and water. Beat on low speed until blended. Scrape bowl, and beat 4 minutes on medium speed. Stir in chocolate chips. Pour batter into prepared pan.
Bake in the preheated oven for 50 to 60 minutes, or until a toothpick inserted into the center of the cake comes out clean. Allow to cool.