Preheat your oven to 350°F (175°C) and prepare your baking pan by greasing it lightly or lining it with parchment paper.
In a large mixing bowl, cream together the softened butter and 3/4 cup sugar using an electric mixer until light and fluffy. This should take about 3-4 minutes.
Beat in 1 large egg, 1 teaspoon vanilla extract, and 1/2 teaspoon almond extract until well combined.
In another bowl, whisk together the 2 1/2 cups White Lily flour, 1/2 teaspoon baking powder, 1/2 teaspoon baking soda, and 1/4 teaspoon salt.
Gradually add the dry mixture to the wet ingredients, alternating with 3/4 cup sour cream, starting and ending with the dry ingredients. Mix until just combined—be careful not to overmix.
In a separate bowl, beat together 8 ounces cream cheese, 1/4 cup sugar, and 1 large egg until smooth and creamy.
Spread half of the cake batter into the bottom of the prepared pan. Carefully layer the 2/3 cup raspberry jam over the batter, followed by the cream cheese filling. Finally, dollop the remaining cake batter on top and gently spread it out.
Sprinkle 1/2 cup sliced almonds over the top of the cake batter for a delightful crunch.
Bake in the preheated oven for 45-50 minutes, or until a toothpick inserted into the center comes out clean. Let it cool in the pan for about 10 minutes before transferring it to a cooling rack.
While the cake cools, whisk together 1 cup powdered sugar and 2 tablespoons milk until smooth. Drizzle over the cooled cake before serving.
