3/4 cup butter or margarine, softened
1/4 cup creamy peanut butter
4 eggs
1/2 cup buttermilk
2 cups sugar
3 teaspoons baking powder
3 cups all-purpose flour
1 teaspoon vanilla
1/2 cup water

Mix butter or margarine, peanut butter, eggs, and buttermilk. Add rest of ingredients and beat with electric mixer. Grease and flour 12-cup Bundt pan, or 10" tube pan. Bake in 350 deg. oven for about 45 minutes. Lower heat to 325 deg. and bake 20 minutes longer, or until top springs back when lightly pressed with fingertips. Cool 10 minutes. Turn out and cool completely before frosting.

Peanut Butter Topping:

1/4 cup creamy peanut butter
1 cup confectioners sugar
4 or 5 tablespoons buttermilk

Combine all ingredients in small bowl until smooth. Spoon over cooled cake.