Preheat oven to 350. Grease a bundt pan.
Place all cake ingredients in a large bowl. Mix on low with an electric mixer until ingredients are combined, then turn up the speed to medium and beat for two minutes.
Pour into bundt pan and bake for 45-50 minutes or until a tooth pick comes out clean inserted in the middle of cake.
For the frosting, add the butter and cream cheese in a large bowl. Beat with an electric mixer on medium for 2 minutes. Turn the mixer down to low and gradually add the powder sugar and vanilla. Once combined, turn the mixer up to medium and beat for another two minutes. Spread onto cooled cake and serve. Store in refrigerator for up to 5 days!
