Combine first 4 ingredients until light and fluffy. Combine the flour, soda and salt and add slowly, half cup at a time, to the wet ingredients. Add the extracts and combine well. Place in greased and floured tube pan or 2 loaf pans. Bake in 350 preheated oven for 1 hour 20 mins, until golden brown and a toothpick inserted in middle comes out clean. Allow cake to sit 20 mins, then invert onto a wire rack to cool.
Cream butter with 2 cups of the powered sugar. Add the rest of the ingredients and beat on low. If a thicker glaze consistency is desired, add up to 2 cups more powdered sugar. Allow the cake to cool completely and glaze.