Cream butter; gradually add sugar, beating well at medium speed of an electric mixer. Add eggs, one at atime, beating well after each addition.
Combine flour, baking powder, and soda in a medium bowl, stir well. Add flour mixture to the creamed mixture alternately with the sour cream, beginning and ending with the flour mixture. Mix after each addition. Stir in almond extract.
Pour half of the batter into a greased and floured 12 cup Budt or 10 inch tube pan. Spoon half of the cranberry sauce over the batter. Repeat layers, using remaining batter and cranberry sauce. Sprinkle with chopped pecans.
Bake at 350 degrees for 50-60 minutes or until a wooden pick inserted in center comes out clean. Let cool in pan 10 minutes; remove from pan and let cool completely on a wire rack. Drizzle with glaze.
Glaze: Combine powdered sugar, water, and almond extract in a small bowl, stirring until smooth.