Heat oven to 350º F. Grease and flour 12-cup bundt cake pan. Beat all ingredients except frosting in large bowl on low speed 2 minutes 30 seconds, scraping bowl frequently. Pour into pan. Bake 40 to 45 minutes or until toothpick inserted in center comes out clean. Cool 10 minutes. Turn upside down onto heatproof serving plate; remove pan. Microwave frosting in microwavable bowl on Medium (50%) 15 seconds. Spread over top of cake, allowing some to drizzle down side. Serve warm or cool.