1. Combine all ingredients in large mixer bowl.
2. Mix until blended, then beat at medium speed for 4 minutes.
3. Turn batter into lightly greased and floured 10 tube pan.
4. Bake at 350 degrees for 1 hour or until done.
5. Cool in pan for 10 minutes, then turn out onto rack and cool completely.
6. Serve dusted with confectioners' sugar.