  We present Quantum Monte Carlo calculations of magnetic moments and M1
transitions in $A\le 9$ nuclei which take into account contributions of
two-body electromagnetic currents. The Hamiltonian utilized to generate the
nuclear wave functions includes the realistic Argonne-{\it v}$_{18}$
two-nucleon and the Illinois-7 three-nucleon interactions. The nuclear two-body
electromagnetic currents are derived from a pionful chiral effective field
theory including up to one-loop corrections. These currents involve unknown Low
Energy Constants which have been fixed so as to reproduce a number of
experimental data for the two- and three-nucleon systems, such as $np$ phase
shifts and deuteron, triton, and $^3$He magnetic moments. This preliminary
study shows that two-body contributions provide significant corrections which
are crucial to bring the theory in agreement with the experimental data in both
magnetic moments and M1 transitions.
