Cream butter, sugar, vanilla, lemon, and cream until light and fluffy. Add in eggs one at time, mixing well. Sift together flour, baking soda, baking powder, and salt then slowly add to cream mixture while alternating with buttermilk. Pour the batter into greased 7-inch bundt pan. Cover with foil.
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Add 1 1/2 cups water to Instant Pot. Then put pan inside on top of a trivet. Seal the lid. Set on high pressure for 32 minutes. Allow to naturally release for ten minutes then do a quick release and remove the cake pan from the Instant Pot. Allow cake to cool in pan for about 5 minutes, remove foil, then invert onto a cake plate.
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