Blend cream cheese, butter, and sugar in the large bowl of an electric mixer. Turn speed to low; add eggs, one at a time, beating after each addition.

Whisk together flour and baking powder; stir into cheese mixture, blending only until smooth.

Pour mixture into a greased, floured 9 x 5 inch pan.

Bake 1 hour and 20 minutes until golden brown. Remove from oven and cool on wire rack.

After cake has cooled, sprinkle with confectioners' sugar.