Grease and flour a 12 cup bundt pan. I like to use bakers spray to grease my bundt pan. 

Preheat oven to 350 degrees.

In a stand mixer with a paddle attachment, beat butter on medium speed for about 2 minutes or until creamy. Gradually add sugar, beating 5-7 minutes.

Add eggs in one at a time, mixing just until yoke is incorporated.

In a separate bowl,  whisk the flour, baking powder and salt together.

Add 1/3 eggnog along with the vanilla to the butter mixture. The mix in 1/3 of the flour mixture. Continue alternating with 1/3 eggnog starting and 1/3 flour mixture until it is all combined.  Stir on low speed just until blended after each addition.

Pour half of the batter into the prepared pan.

The the remaining other 1/2 of the battaer, stir in the cinnamon, nutmeg, allspice and cloves.Spoon spiced batter over plain batter. Use a knife to swirl the batters together.Bake at 350 degrees for 50-55 minutes or until a wooden pick inserted in the center comes out clean.Cool in pan for 15 minutes on a wire rack. Invert the cake onto a serving platter. Allow to continue to fully cool.

In a bowl, combine powdered sugar and heavy cream. If needed add a little milk or cream to thin the glaze if needed. Drizzle glaze over the cake and serve.