Preheat your oven to 325 F and grease a bundt pan with cooking spray. Set aside.
In a large bowl, beat together room temperature unsalted butter with granulated white sugar until creamy and smooth. Add large eggs one at a time, beating between each addition. Stir in the all-purpose flour. Add the lemon extract and 1 cup 7-Up. Pour batter into the prepared pan and bake until a toothpick inserted in the center of the cake comes out clean, about 1 hour 10 minutes.
Remove from oven and let cool 10 minutes before taking bundt cake out of cake pan and onto a wire rack.
Meanwhile, prepare the glaze by whisking together powdered sugar, milk, and vanilla extract until smooth. Drizzle on the warm cake and let drip down the sides. Wait until cool to serve this cake recipe.