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Recipe from Penzeys Spices...enjoy!
1 cup butter, softened
1 cup creamy peanut butter
3 cups sugar
2 tsp. pure vanilla extract
3 cups cake flour
1/2 tsp. baking powder
1/2 tsp. salt
1 cup milk
12 oz. premium semi-sweet chocolate chips
3/4 cup heavy cream
Lightly grease and flour a 10-inch tube pan and set aside. In a large bowl, cream together the butter and peanut butter. Add the sugar and beat until light in color. Add the eggs, one at a time, mixing well after each addition. The mixture should be light and fluffy. Add the vanilla.
In a smaller bowl, sift together the flour, baking powder and salt. Gradually add the butter mixture, alternating with the milk, beginning and ending with the flour mixture. Mix batter until smooth and creamy then pour into pan. Place in cold oven and set oven temperature to 325 degrees. Bake until a tester inserted in cake comes out clean, about 1 hour and 35 minutes. Let cake cool in the pan for 30 minutes before turning out on a rack to cool completely before icing.
For the icing: Place chocolate chips in a small mixing bowl. Heat cream in saucepan until boiling. Pour over the chocolate chips and stir until smooth and creamy. Let cool for 2-3 minutes before icing cake.