with an electric mixer beat together butter and cream cheese on medium. Add powder sugar, baking powder and salt. Continue to beat until well combined. Be sure to scrape bowl occasionally. Add in egg, almond extract and mix well. Beat in as much flour as you can using the mixer and mix in the rest by hand.
divide dough in half. Shape each half into a roll about 1-1/2" in diameter. Spread pistachio nuts out and roll each portion of dough in the nuts, coating the entire edge, then roll in wax paper or plastic wrap and refrigerate for 1 hour or until the dough is slice-able.
Cut the rolls into 1/4 inch slices and bake for 7-9 minutes, 1 inch apart at 375. Edges will be light brown. Cool in wire racks.