Preheat your oven to 325°F (160°C) and grease a bundt pan.
In a large bowl, cream the softened butter and sugar until light and fluffy.
Add the eggs one at a time, mixing well after each addition.
Stir in the vanilla extract.
In another bowl, sift together the flour, baking powder, baking soda, and salt.
Gradually add the dry ingredients to the butter mixture, alternating with the buttermilk.
Mix until well combined and smooth.
Pour the batter into the prepared bundt pan.
Bake for 50-60 minutes, or until a toothpick comes out clean.
Prepare the glaze by combining sugar, water, and vanilla in a saucepan. Bring to a simmer and stir until sugar dissolves.
Once the cake is done, allow it to cool for 10 minutes, then invert it onto a serving plate and drizzle with glaze.