1. Preheat oven to 350°. Beat butter at medium speed with a heavy-duty electric stand mixer until creamy. Gradually add sugar, beating at medium speed until light and fluffy. Add cream cheese, beating until creamy. Add eggs, 1 at a time, beating just until blended after each addition.
2. Gradually add flour to butter mixture. Beat at low speed just until blended after each addition, stopping to scrape bowl as needed. Stir in almond and vanilla extracts. Pour one-third of batter into a greased and floured 10-inch (14-cup) tube pan (about 2 2/3 cups batter). Dollop 8 rounded teaspoonfuls strawberry glaze over batter, and swirl with wooden skewer. Repeat procedure once, and top with remaining third of batter.
3. Bake at 350° for 1 hour to 1 hour and 10 minutes or until a long wooden pick inserted in center comes out clean. Cool in pan on a wire rack 10 to 15 minutes; remove from pan to wire rack, and cool completely (about 1 hour).
Note: We tested with Marzetti Glaze for Strawberries.