Preheat the oven to 325°F. Generously butter and flour an angel food pan or spray with baking spray. (May use a pan with or without a removable bottom.)
In a medium size mixing bowl use a whisk to sift together the flour, pumpkin spice pudding mix, baking powder and salt. Set aside.
In a large mixing bowl using an electric mixer, cream together butter and cream cheese on high speed for 2 minutes. Lower the speed to medium-high and add granulated sugar, brown sugar and vanilla. Beat for 2 minutes or until light and creamy.
Add the pumpkin puree whipping until fully incorporated, then add the eggs one at a time. Beat well after each addition stopping to scrape the bowl periodically,
Lower the speed of the mixer and gradually add the sifted dry ingredients. After all of the flour mixture is added, beat on medium speed for about 45-60 seconds or just until fully combined. Be careful not to over mix.
Pour the cake batter evenly into the prepared pan.
Bake for 1 1/2- 1 3/4 hours OR until a toothpick or cake tester inserted into the center comes back clean. Check at 1 hour and lay a piece of foil on top to prevent over browning, if needed.
Cool for 20 minutes in the pan before carefully removing to a wire rack to cool completely.
Serve simply dusted with powdered sugar or a drizzle of caramel and a scoop of vanilla ice cream. See below for instructions to make cream cheese frosting.
Cream Cheese Frosting: Using an electric mixer whip together cream cheese, butter and vanilla until fully combined, about 2 minutes. Lower the speed of the mixer and gradually add powered sugar. Add heavy cream 1 Tbsp at a time to thin for drizzling. Repeat until your desired thickness is reached.
Frost cooled cake and garnish with pecans. Store chilled.
Toast Pecans: Spread pecans in a single layer on a sheet pan. Roast for 6-8 minutes in a preheated 350°F oven or until fragrant. Set aside to cool.