Place all ingredients into mixing bowl except nuts, powder sugar, butter and cream cheese. Beat for approximately 5 minutes. Fold in nuts and bake in Bundt pan for 1 hour 15 minutes at 350°F.

When done allow to cool to the touch. Turn cake out too cool further. Prepare frosting.

Icing - Cream together powder sugar, butter and cream cheese with a small amount of milk. Add a couple drops of the red food coloring to make it pretty. Leave it a bit thick so it stays on top of the cake. Put on cake once it has been cooled out of the pan.