Heat oven to 325 degrees F.
Spray a 10 cup bundt pan with baking spray. Set aside.
In a medium bowl, whisk together flour, baking soda, baking powder, and salt. Set aside.
With an electric mixer, beat cream cheese, butter, and sugar until fluffy, 2-3 minutes.
Add eggs, one at a time, beating well after each addition.
Stir in vanilla.
Gently mix in flour.
Stir in milk.
Spoon ⅔ of the batter into prepared bundt pan.
Spoon jam over the top, being careful not to let it touch the sides or center of the pan.
Top with remaining batter.
Bake for 70-75 minutes, until done, covering after 40 minutes to prevent over-browning.