Preheat oven to 325°F (163°C). Grease and flour a 10-inch Bundt or tube pan.
Beat butter and sugar until light and fluffy, about 3–5 minutes. Add eggs one at a time, beating well after each addition.
Whisk together flour, baking powder, and salt.
Alternate adding dry ingredients and fruit purees to the butter mixture, beginning and ending with flour. Stir in vanilla and almond extract. Add food coloring if desired.
Pour batter into prepared pan and bake for 1 hour 15 minutes to 1 hour 30 minutes, or until a toothpick inserted comes out clean.
Cool in the pan for 15 minutes, then invert onto a wire rack to cool completely.
Beat cream cheese until smooth. Gradually add powdered sugar, milk or cream, and vanilla until glaze is smooth and pourable.
Drizzle glaze over the cooled cake before slicing and serving.
