Preheat the oven to 375. Mix all the cake ingredients and pour into a greased jelly roll pan or cookie sheet with sides. Bake for 15 minutes. While baking, get a hand towel, piece of linen, or other cloth and dampen it, then sprinkle with powdered sugar. When the cake is finished baking, you are going to let it cool for a couple of minutes, then flip it onto that towel. Roll up the cake and the towel from the short end and allow to cool for 20 minutes. (This will help it keep that rolled shape once you fill it.)
While it’s cooling, beat the cream cheese and butter together, then add vanilla and powdered sugar. Unroll the cake and towel and spread the filling evenly across the cake. Roll back up, this time without the towel, and wrap tightly in plastic wrap before refrigerating. Serve chilled, cut into 1/4″ slices with more powdered sugar sprinkled on top, if desired.