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REMOVE pound cake from wrapper; place cake on serving plate. Poke 25 to 30 holes down through top of cake with round handle of wooden spoon. (Holes should be at 1-inch intervals.)
POUR milk into medium bowl. Add dry pudding mix. Beat with wire whisk 30 seconds. Immediately pour about 1/4 of the thin pudding evenly over cake and into holes to make stripes. Tap plate on counter to settle pudding in holes. Pour 1/3 of the remaining pudding over holes. Tap cake again. Let remaining pudding stand several minutes until slightly thickened. Use to frost top and sides of cake.
REFRIGERATE at least 1 hour or until ready to serve. Store leftover cake in refrigerator.