Butter, cream cheese and eggs should be room temperature. Preheat oven to 275 degrees. Blend softened butter and cream cheese together. Gradually add sugar. Add eggs, one at a time (mix for 30 seconds each). Gradually add flour, then flavorings. Bake for 1 1/2 to 2 hours.
ICING: Blend butter and cream cheese together. Gradually add confectioners' sugar. Spread on cooled cream cheese pound cake.