Holiday Cherries & Nut Cake

Preheat oven to 325°F (160°C). Grease a 12-cup Bundt pan or 10-inch tube pan; sprinkle with 1/2 cup finely chopped pecans; set aside. for Cake: In a large bowl, beat cream cheese, butter, sugar and vanilla with electric mixer on medium speed until blended. Add eggs, 1 at a time, mixing well after each addition; set aside. Combine 1 3/4 cups of the flour with the baking powder. Gradually add to cream cheese mixture, beating well after each addition. Toss remaining 1/4 cup flour with the cherries and 1/2 cup chopped pecans; gently stir into batter. Pour into prepared pan. Bake for 1 hour and 10 minutes or until wooden pick inserted in center comes out clean. Cool in pan 5 minutes. Loosen cake from side of pan with knife; gently remove cake from pan. Cool completely on wire rack. For Simple Icing: Mix powdered sugar, butter, vanilla and milk until smooth; drizzle decoratively over cake.