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Preheat oven to 350 degrees. Bake pecans in a single layer in a shallow pan 8 to 10 minutes or until toasted and fragrant, stirring halfway through.
Stir together flour and next 4 ingredients in a large bowl; stir in eggs and next 4 ingredients, stirring just until dry ingredients are moistened. Sprinkle 1 cup toasted pecans into a greased and floured 14-cup Bundt pan. Spoon batter over pecans.
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Prepare Glaze- Process cream cheese, powdered sugar, vanilla, and 1 Tbsp. milk in a food processor until well blended. Add remaining 1 Tbsp. milk, 1 tsp. at a time, processing until smooth. Immediately pour glaze over cooled cake, and sprinkle with remaining 1/2 cup toasted pecans.
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