Preheat oven to 350 F. Grease and flour a 10-in. fluted tube pan.
In a large bowl, combine the first 6 ingredients; beat on low speed 30 seconds. Beat on medium 2 minutes. Transfer to prepared pan. Bake until a toothpick inserted in centre comes out clean, 35-40 minutes. Cool in pan 10 minutes before removing to a wire rack to cool completely.
Dust with confectioners' sugar. If desired, sprinkle with pistachios.
Editor’s Note: To remove cakes easily, use solid shortening to grease plain and fluted tube pans.