Eggnog Rum Cake

1 (18.25 ounce) box yellow cake mix
1 small box vanilla instant pudding
1/2 cup light rum
1 tablespoon butter flavoring
1/2 cup whipping cream
1/2 cup vegetable oil
4 eggs
1/2 teaspoon nutmeg

Preheat oven to 325 degrees F. Grease and flour a Bundt pan.

Combine above ingredients and beat 2 minutes. Put 1/2 cup nuts in bottom of pan. Pour batter over nuts in pan. Bake for 50 to 60 minutes. Remove cake from pan after cooling for 10 minutes. Pour glaze over warm cake.

Eggnog Rum Glaze
1 cup granulated sugar
1/2 cup (1 stick) butter
1/4 cup water
1/4 cup rum
1/8 teaspoon nutmeg