In mixing bowl, beat cream cheese until smooth. Gradually beat in milk. Add dry cake mix and eggs; beat until combined. Beat on medium speed for 2 minutes.
Pour into a greased and floured, 1- inch fluted tube pan. Bake at 350°F for 40 to 45 minutes or until a toothpick inserted near center comes out clean. Cool for 10 minutes before removing from pan. Cool completely on a wire rack.