Step 1

Preheat oven to 325°F. Generously grease a 12-cup Bundt pan.

Step 2

Whisk together the flour, baking powder, baking soda, and salt. Set aside.

Step 3

Using an electric mixer on medium speed, beat the butter and sugar until light and fluffy. Add the eggs, one at a time, mixing well after each addition. Mix in the jam and vanilla.

Step 4

Reduce mixer speed to low. Mix in the flour mixture in three portions, alternating with two portions of buttermilk. Mix just until combined.

Step 5

Transfer the batter to the prepared pan and spread evenly. Bake 60 to 70 minutes, or until a pick inserted into the center comes out clean. Cool the cake in the pan for 20 minutes. Then transfer the cake to a wire rack to cool completely.

Step 6

Using an electric mixer on medium speed, beat the cream cheese and sugar until thoroughly combined and smooth. Add 2 tablespoons of milk and the lemon juice (or vanilla) and mix well. If necessary, add more milk (a little bit at a time) until the glaze is the desired consistency.

Step 7

Transfer the cooled cake to a cake plate. Dollop the glaze on top of the cake, allowing it to spread down the sides. If necessary, use a spoon to help the glaze get started running down the sides. Top with almonds.