1 package (about 18 1/4 ounces) yellow cake mix
1 cup eggnog
1/3 cup water
1/4 cup butter, melted and cooled slightly
1/2 teaspoon nutmeg
1 cup powdered sugar
2 tablespoons hot melted butter
1 1/2 tablespoons hot milk
Grated nutmeg (optional)
Sweetened whipped cream (optional)
In a large bowl, combine cake mix, eggnog, water, butter, eggs and nutmeg. Beat at medium speed with an electric mixer for 2 minutes. Pour batter into a well-greased and floured 10 inch bundt cake pan. Bake at 350° F for about 50 minutes, or until cake is golden brown and comes away slightly from edge of pan. Transfer to a wire cooling rack; let stand 10 minutes. Invert cake onto rack; cool completely.
For glaze, combine powdered sugar, butter and milk; mix until smooth. Place cooled cake on serving platter. While still warm, spoon glaze over cake, letting excess drip down sides of cake. Sprinkle with nutmeg, if desired. Let stand until glaze is set, about 10 minutes. Serve with sweetened whipped cream, if desired.