Grease an 8 inch tube pan with baking spray.
Cream butter and sugar until light and fluffy. Add eggs, one at a time, beating well after each addition. Add vanilla and lemon extract, mix well.
Add half the flour, mix well, then add cream and mix well. Add remaining flour and mix until thoroughly combined.
Pour batter into prepared pan and place in a cold oven. Set the oven temperature to 175C and bake for 50-60 minutes. Cake is done when a skewer inserted into middle of cake comes out clean. Remove from oven and cool in pan 5 minutes, then transfer to a wire rack to cool completely.