Preheat oven to 325°F (160°C) and grease and flour a 10-12 cup Bundt pan.

In a large bowl, cream together the softened cream cheese and butter until light and fluffy using an electric mixer. Gradually add the granulated sugar, beating until well combined.

Beat in the eggs one at a time, ensuring each is fully incorporated before adding the next. Stir in the vanilla extract.

In a separate bowl, whisk together the all-purpose flour, baking powder, and salt. Gradually add the dry ingredients to the wet ingredients, alternating with the milk, beginning and ending with the flour mixture. Mix until just combined, being careful not to overmix.

Pour the batter into the prepared Bundt pan and bake for 80-90 minutes, or until a wooden skewer inserted into the center comes out clean.

Let the cake cool in the pan on a wire rack for 15 minutes before inverting it onto the rack to cool completely.