In a large bowl, beat the butter at medium speed until creamy. Add the sugar gradually, continuing to beat until the batter is light and fluffy. Add the cream cheese and eggs, one at a time, beating between each addition until the item is just blended.
With the beaters running at low speed, gradually pour in the flour, stopping to scrape the bowl as necessary. Only beat until the flour is just blended in. Add the almond and vanilla extracts and stir to combine.
Spoon a third of the batter into the the tube pan. Drizzle two tablespoons of strawberry glaze over and around the batter, swirling with the spoon as desired. Repeat a layer of batter and glaze and finish with the remaining third of the batter.
Bake for an hour to an hour 10 minutes, or until a wooden skewer inserted in the middle comes out clean. Cool in the pan on a wire rack for 15 minutes, then remove the cake from the pan and cool completely on the rack.