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Preheat oven to 350 F. Grease a 10 inch bundt pan with baking spray or butter and flour it.
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Prepare cream cheese filling. First in a stand mixer, beat cream cheese, butter and sugar until light and fluffy, about 2 minutes. Add egg, flour, and vanilla and continue beating until smooth. Set aside while preparing cake batter.
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In a medium bowl mix flour, sugar, cocoa powder, baking soda and salt. Set aside.
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In a large bowl whisk together vegetable oil, eggs, sour cream, milk, vanilla and vinegar. Beat in flour mixture until well combined. Add red food coloring, until desired color.
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Pour half of the cake batter into the pan. Top evenly with cream cheese filling, leaving a 1-inch border around the edge of the pan. Top with remaining cake batter.
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Insert a butter knife into the cake batter and lightly swirl the cream cheese filling into cake. Do not swirl to much; you just need to swirl knife a couple of times through.
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Bake for 55 to 65 minutes, until center is set and a toothpick inserted comes out clean. Allow cake to cool completely, before inverting onto cake plate.
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While cake cools, prepare icing. Beat powdered sugar, cream cheese, heavy cream and vanilla for 2 minutes, until well combined. Place in piping bag and pipe onto cooled cake. Serve immediately and store leftovers in the refrigerator.