1. In small saucepan, combine cranberries, the water and rum. Bring to boiling, Cover; remove pan from heat. Set aside.
2. Meanwhile, preheat oven to 325*F. Grease 9x5 loaf pan. In large bowl of electric mixer, at medium speed, beat butter with sugar. Beat in eggs, one at a time, beating well after each addition.
3. Add flour (in fourths) alternately with sour cream (in thirds), starting with flour and beating after each addition just until blended.
4. Drain cranberry mixture; add to cake batter with the lemon zest. Pour into prepared pan; bake 1 hour and 10 minutes, until cake tester inserted in center of cake comes out clean. Cool cake in pan on wire rack.
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