1Combine dry ingredients, add oil and eggs, beat well; add buttermilk and vanilla, mixing thoroughly. Stir in preserves and pecans. Pour into greased and floured bundt pan and bake at 350 degrees for approximately 1 hour or until done. Cool in pan 10 minutes then remove. Pour warm buttermilk glaze over warm cake.
2Buttermilk glaze: Combine first 5 ingredients in a saucepan; bring to a boil, and remove from heat, add vanilla.