Remove skin from ham, and trim fat to 1/4-inch thickness. Make 1/4-inch-deep cuts in a diamond pattern, and insert cloves at 1-inch intervals. Place ham in an aluminum foil-lined 13- x 9-inch pan.
Stir together soft drink and next 3 ingredients until smooth. Pour mixture evenly over ham.
Bake at 350° on lower oven rack 2 hours and 30 minutes, basting with pan juices every 20 minutes. Remove ham; let stand 15 minutes before serving. Garnish, if desired.
Note: For testing purposes only, we used Orangina Sparkling Citrus Beverage.