Before you begin, set the oven to 325°F (165°C) and allow it to preheat. Prepare your loaf or bundt pan by greasing it well, then dusting lightly with flour. Shake out any excess and set the pan aside.
In a large mixing bowl, beat the butter and cream cheese together until completely smooth. Add the sugar gradually and continue mixing until the texture becomes light, soft, and fluffy.
Crack in the eggs one at a time, mixing well after each addition so they blend evenly. Once all the eggs are incorporated, stir in the lemon juice, vanilla extract, and lemon zest.
In a separate bowl, stir together the flour, baking powder, and salt. Slowly add this dry mixture to the batter, mixing gently just until everything is combined.
Pour the batter into the prepared pan and level the top. Place it in the oven and bake for 70 to 80 minutes, checking for doneness by inserting a toothpick into the center—it should come out clean.
After baking, remove the cake from the oven and let it cool in the pan for about 15 minutes. Turn it out onto a wire rack and allow it to cool completely.
To finish, stir powdered sugar with lemon juice until you have a smooth glaze that can be poured easily. Drizzle the glaze over the cooled cake, letting it run down the sides before serving.