Beat 1 1/2 cups butter and cream cheese at medium speed with a heavy-duty stand mixer 6 minutes or until creamy. Gradually add granulated sugar, beating 2 to 3 minutes. Add eggs, 1 at a time, beating well after each addition. Stir in banana baby food.
Combine flour and baking powder; gradually add to butter mixture, beating at low speed just until blended after each addition. Stir in vanilla and 1 2/3 cups pecans. Pour batter into a greased and floured 10-inch tube pan.
Bake at 350° for 1 hour and 40 minutes or until a long wooden pick or skewer inserted near center comes out clean. Cool in pan on a wire rack 10 to 15 minutes; remove from pan, and cool on wire rack.
Combine brown sugar, 1/2 cup butter, and evaporated milk in a small saucepan over medium heat; bring to a boil, and cook, stirring constantly, 3 minutes or until sugar dissolves. Stir in 2 tablespoons pecans; cool slightly. Serve glaze drizzled over cake or on the side.
Note: With almost 10 cups of batter, this recipe makes a 4-inch-tall pound cake. If you don't own a heavy-duty stand mixer, make sure to use at least a 3 1/2-quart bowl to prepare it. When choosing a pan for baking, use a 10-inch tubepan that's at least 4 inches tall. To test for doneness, it's necessary to use a long wooden pick or skewer to reach down to the bottom of the cake. The cake may appear done on the top and when tested with a toothpick, but still not be done deeper down in the center.