Beat first 7 ingredients with mixer until blended.
Pour into greased and floured 12-cup fluted tube pan or 10-inch tube pan.
Bake 50 min. or until toothpick inserted near center comes out clean. Cool cake in pan 10 min. Loosen cake from sides of pan with knife. Invert cake onto wire rack; gently remove pan. Cool cake completely.
Mix remaining ingredients until blended; drizzle over cake.