1. Heat oven to 350 degrees. 2. Grease and flour 12-cup fluted tube pan. 3. In a large bowl blend first five ingredients until moistened. 4. Beat 2 minutes at highest speed. 5. Fold in chopped nuts. 6. Pour into pan. 7. Bake at 350 for 40-50 minutes or until toothpick inserted in center comes out clean. 8. Cool upright in pan for 25 minutes. 9. Turn onto serving plate. 10. Cool completely. 11. Blend glaze ingredients in small bowl until smooth. 12. If needed add a few more drops of milk. 13. Spoon over cooled cake.
