HEAT oven to 325ºF.
MIX first 7 ingredients and 1/2 cup liqueur; let stand 5 min. Pour into 12-cup fluted tube pan or 10-inch tube pan sprayed with cooking spray.
BAKE 50 to 55 min. or until toothpick inserted near center comes out clean. Meanwhile, mix remaining liqueur and powdered sugar.
COOL cake in pan 15 min. Loosen cake from sides of pan with knife; invert onto wire rack. Gently remove pan; cool cake completely. Drizzle with icing.