Pour in the tequila and lime juice and season with salt and chili powder. Simmer until the liquid has evaporated, about 3 more minutes.
Arrange shrimp on a plate and garnish with cilantro. Serve with lime wedges. I like to serve it with mexcian rice and black beans. I also make maragitas with the remaining tequila. :) (I served with angel hair pasta and had no margaritas :( )