Preheat the oven to 350°F Butter and flour a standard bundt pan or spray with baking spray. Set aside.
Using an electric mixer, cream together the butter, sugar, vanilla and almond extracts for 2-3 minutes.
Add the eggs one at time beating well after each addition.
In a separate bowl, sift together the flour, pudding mix, baking powder and salt.
Add the dry ingredients and buttermilk alternately beginning and ending with flour until all has been added. Stop and scrape the sides of the bowl periodically.
Add the lemon zest and beat just until fully combined stopping to scrape the sides of the bowl as needed.
Spread into the prepared pan. Bake for 55-60 minutes or until a long skewer inserted into the center comes back clean.
Meanwhile, on the stovetop in a small saucepan, melt together the sugar, butter and lemon juice just until melted, do not boil.
Immediately after removing the cake from the oven, use a long skewer to poke holes all over the top and into the cake.
Slowly pour the lemon butter sauce over the top and let it soak into the cake.
Cool to warm in the pan then turn onto a rack to cool completely.
Serve dusted with powdered sugar and a dollop of whipped cream, if desired.