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Grease a ten inch tube pan.
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Line the bottom with greased paper also.
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Preheat oven to 350 degrees F.
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Cream room temperature butter in a large mixer bowl and add the sugar gradually. Continue beating until mixture is very soft and light.
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Add the grated rind from two limes, along with the eggs one at a time, beating in a teaspoon of the flour with each addition of each egg.
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Sift the remaining flour with the baking powder and salt onto waxed paper.
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Stir the flour into the cake with a wooden spoon and also add the vanilla, and lime juice.
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Pour mixture into prepared tube pan and smooth the top evenly.
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Bake in 350 preheated oven for 1 1/4 hours or until tester comes away clean. Don't overbake, start testing at the 60 minutes time.
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Remove when done and cool in the pan.
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Run a knife around edge and then turn out.
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Peel off the paper and set up right side onto a plate.
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Sprinkle with powdered icing sugar.