Blend all ingredients together with an electric mixer for 3 minutes. Pour into a greased and floured bundt pan. Bake at 350 degrees for 45 to 55 mins. Cool the cake in the pan. Remove the cake to a cake plate and prepare the frosting.
Frosting - Mix all ingredients except the vanilla in a 2 1/2 quart pan. Heat to a rolling boil, stirring occasionally. Boil for one minute without stirring. Place the pan in a bowl of ice and water. Beat the frosting until it is smooth and spreadable. Ice the cake and enjoy.