Preheat oven to 350 degrees. Flour and grease a large loaf pan or bundt pan.
In a large mixing bowl, beat together sugar and eggs and until lightened in color.
In small bowl, sift together baking powder and flour. On low speed, gradually beat into sugar/egg mixture.
In a small sauce pan over low heat, heat butter and milk, stirring frequently, until mixture reaches a boil. Once it boils, remove from heat and stir in vanilla.
Gradually stir heated milk mixture into flour and egg mixture. Once it begins to incorporate, beat for about 30-60 seconds, or until well incorporated.
Pour batter into prepared baking pan. Bake for 30 minutes, or until top is a golden brown.