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, sift together the flour, pumpkin spice pudding, baking powder and salt with a whisk. 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 whipping just until incorporated.
Add eggs one at a time mixing thoroughly after each addition. Stop and scrape the sides of the bowl as needed.
Lower the speed of the mixer and gradually add dry ingredients. After all ingredients have been added, beat on medium speed for about 1 minute or just until fully combined. Be careful not to over mix.
Pour the cake batter evenly into the prepared pan. If needed, bounce the cake pan on the counter to settle and release air bubbles.
Bake for 1 ½- 1 ¾ 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 cooling rack to cool completely.
May be served 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.
To make the 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. May add cream 1 Tbsp at a time to thin for drizzling. Repeat until your desired thickness is reached.
Frost cool cake and garnish with nuts. Store chilled.