Step 1

Preheat the oven to 350°F. In a large bowl, cream together the butter and sugar until light and fluffy. Add the eggs, one at a time, beating well after each addition. Beat in the vanilla.

Step 2

In a separate bowl, combine the flour, baking powder and baking soda. Add this dry mixture to the creamed mixture, alternating with the sour cream, beating well after each addition. Fold in the chocolate chips.

Step 3

Pour the batter into a greased and floured 10-inch fluted tube pan. Bake for 60 to 65 minutes or until a toothpick inserted in the center comes out clean. Let the cake cool in the pan for 10 minutes before transferring it to a wire rack to cool completely. Editor's Tip: Leave about 1/2 inch at the top of the pan for the cake to rise. If you have leftover batter, pour it into cupcake tins or mini tube pans and bake those as well.

Step 4

In a microwave-safe bowl, melt the chocolate chips and butter a few seconds at a time, stirring until the liquid is smooth. Whisk in the confectioners' sugar, milk and vanilla until you have a smooth liquid glaze. Drizzle the glaze over the cake.