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Combine apricots, juice and 1/4 c sugar in saucepan. Heat to a boil, then simmer for 15-20 minutes, or until apricots have softened.
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Drain apricots well and reserve liquid.
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Mix together flour, baking powder, and pecans.
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In a large mixing bowl, cream together cream cheese, butter, vanilla and sugar.
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Stir in apricots.
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Beat in eggs, 1 at a time.
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Fold in flour mixture, 1/3 at a time.
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Pour batter into greased and floured Bundt pan.
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Bake at 325 for 65-70 minutes, or until tests done.
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Remove from oven and slowly pour reserved liquid over hot cake.
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Let rest in pan for 10 minutes, then turn the cake out onto a wire rack.
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Make glaze by mixing juice and powdered sugar to desired consistency. Slowly pour over warm cake.
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Let cake cool completely, then wrap tightly and refrigerate overnight.