Grease and flour a tube pan. (Ours was a 10 inch pan with baking capacity of 12 cups)
Preheat the oven to 325℉.
In a separate bowl, whisk the cake flour, baking powder, and salt to combine, set aside for later.
Using an electric mixer (paddle attachment if using a stand mixer), cream the butter on medium speed until smooth. Next, gradually add the sugar and mix on medium speed until light and fluffy for 3 to 5 minutes.
Add the eggs one at a time, mixing after each until the yolk is blended.
In a measuring cup or bowl, combine the thawed margarita mix with the milk, lemon zest, lime zest, lemon extract, and vanilla extract.
With the mixer on low speed, add the flour mixture alternately with the margarita mixture to the butter/sugar/egg mixture in the mixing bowl. Begin and end with the dry ingredients. We do three additions of dry, alternating with two additions of wet.
Scoop batter into prepared bundt pan.
Bake at 325 degrees for 1 hour and 5-10 minutes or until a toothpick comes out clean. *Baking times may vary and so peek in as the end time approaches and adjust time as needed. *Start making the tequila lime glaze during the last 10 minutes or so of baking the cake (See Tequila Lime Glaze Instructions Below).
Remove the freshly baked cake from the oven and brush the top with a light coating of the tequila lime glaze. Allow cake to cool for about 15 minutes before turning it out onto a cake plate.
Brush the top and sides with tequila lime glaze using a pastry brush. Allow to soak in before adding the decorative white sugar glaze drizzle. *We didn't use all of the tequila lime glaze.