Step 1: Preheat and Prepare the Pan

Preheat your oven to 325°F (163°C). Grease and flour a 10-inch Bundt pan or spray it with non-stick baking spray to ensure easy cake release.

Step 2: Cream Butter, Cream Cheese, and Sugar

In a large mixing bowl, beat the butter and cream cheese together using an electric mixer until smooth and creamy, about 2 minutes. Gradually add the sugar, beating on medium speed for 4-5 minutes until light and fluffy.

Step 3: Add Eggs

Add the eggs one at a time, beating well after each addition. Make sure each egg is fully incorporated before adding the next.

Step 4: Incorporate Dry and Wet Ingredients

In a separate bowl, whisk together the flour, salt, and baking powder. Gradually add the dry ingredients to the butter mixture, alternating with the key lime juice and milk. Begin and end with the flour mixture. Stir in the key lime zest, vanilla extract, and almond extract. If desired, add a few drops of green food coloring to enhance the lime appearance.

Step 5: Bake the Cake

Pour the batter into the prepared Bundt pan and smooth the top. Bake for 75-85 minutes or until a toothpick inserted in the center comes out clean.

Step 6: Cool the Cake

Let the cake cool in the pan for 15 minutes, then carefully invert it onto a wire rack to cool completely.

Step 7: Prepare the Key Lime Glaze

In a medium bowl, whisk together powdered sugar, key lime juice, key lime zest, and vanilla extract until smooth. If the glaze is too thick, add more key lime juice, one teaspoon at a time, until desired consistency is reached.

Step 8: Glaze and Serve

Drizzle the glaze over the cooled cake, allowing it to drip down the sides. Let it set before slicing and serving.