Mix the first five ingredients together. Beat on medium speed only for 2-3 minutes. Cook at 325 degrees for 50 minutes in a bundt pan.
Mix in sauce pan the ingredients for the icing and let boil for 1 minute. Pull cake out of oven and pour icing (which is more of a sauce) on top of the cake while still in the pan and let sit for 15-20 minutes. Turn cake upside down onto plate. Best served at room temperature.