Holiday Gift Cake 8 ounces Philadelphia cream cheese 1 cup butter 1 1/2 cups granulated sugar 4 eggs 2 1/2 cups sifted cake flour 1 1/2 teaspoons baking powder 1 (8 ounce) jar well-drained, chopped maraschino cherries 1 1/2 teaspoons vanilla extract 1 cup chopped walnuts Preheat oven to 325 degrees F. Grease a Bundt pan. Blend cream cheese, butter, sugar and vanilla extract. Add eggs one at a time, beating well after each addition. Gradually add 2 cups of flour, sifted with baking powder. Combine remaining flour with cherries and 1/2 cup nuts; fold into batter. Sprinkle prepared Bundt pan with 1/2 cup nuts. Pour batter into pan. Bake for 1 hour 20 minutes. Cool 5 minutes. Remove from pan. Glaze 1 1/2 cups sifted confectioners' sugar 2 tablespoons milk Mix confectioners' sugar and  milk.