1. Preheat oven to 325degrees
2. position rack in middle of oven
3. spray bundt pan with nonstick spray
4. Beat all cake ingredients in a large bowl for 2 minutes. Transfer batter to prepared pan. Bake until a toothpick in center comes out clean, about 45 minutes.
5. Cool in pan about 30 minutes, invert pan onto platter and remove the pan. Allow cake to completely cool before drizzling glaze.
6. Stir sugar and water in a saucepan over medium heat until sugar is dissolved. Add butter. Simmer until mixture thickens and is syrupy, stirring often, about 5 minutes.
7. Remove saucepan from heat and whisk in rum. Allow the glaze to cool completely.
8. Drizzle glaze evenly over cake and serve to those you love.