Preheat oven to 350˚F. In large bowl cream together cream cheese, butter, and shortening. Mix for 5 minutes or until fluffy in texture.
In another bowl combine flour, baking powder, and salt. Slowly add to cream cheese mixture, blending the whole time.
Add 1 cup sugar and combine. Followed by 2 eggs. Then add remaining sugar and mix. Add remaining eggs and vanilla and combine until uniform in color.
Pour half the batter into greased and floured 6-cup bundt pan. Add melted chocolate on top of batter and swirl with butter knife. Do no over-mix. Top with remaining cream cheese batter.
Bake for 60-65 minutes. Allow to cool for 15 minutes before removing from pan. Allow to cool another hour before glazing.
FOR THE GLAZE:
Combine all glaze ingredients using electric mixer until smooth. If too thick add a bit more milk until slightly runny. Drizzle over cooled cake and let set for 20 minutes before serving. Optional: if you would rather you can dust cake with some powdered sugar instead of glazing it.