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Step 1
Preheat oven to 350° F and grease your bundt pan.
Step 2
Into a batter bowl, add the 1 1/4 cups sugar, flour and baking powder and give it a quick stir with a fork to mix. In another bowl, whisk the eggs and water until smooth. Pour the egg mixture into the flour mixture and whisk until smooth.
Step 3
Pour batter into the greased bundt pan and bake for 25 minutes or until golden brown and a toothpick tests done.
Step 4
As soon as you take the cake out of the oven, pour the heavy cream into a glass measure and add the butter and the 2 tablespoons sugar. Heat this in the microwave until it is very hot but not boiling. Stir cream mixture and slowly pour it over the hot bundt cake. (It will seem like a lot, but it will all absorb!). Let sit for 15 minutes.
Step 5
After the cream has absorbed but before the cake cools completely gently loosen the edges by sliding a small spatula between the cake and the pan in a few spots. Invert the pan onto a serving plate and release the cake.
Step 6
Let cool completely. At this point you can serve the cake as it is (you won't believe how moist it is!) or you can drizzle with a but of icing, below.
Step 7
Whisk all ingredients together until smooth, adding milk a teaspoon at a time until desired consistency is reached. Drizzle over cake.