Bring all ingredients to room temperature. Preheat oven to 325F. Grease well and flour a Bundt pan, tube pan or 2 1-lb loaf pans. Combine flour and baking powder, set aside Cream butter, cheese and sugar until fluffy. Add eggs, one at a time. Stir in dry ingredients in thirds. Fold in extracts.
Bake in Bundt or tube pan for 1 1/2 hours, loaf pans for 1 hour. Cake may be moist on top when taken out of oven. Let cool before cutting.