Make sure your ingredients are nice and soft at room temp. Grab your electric mixer, add cream cheese and butter together in a medium stainless steel mixing bowl. Cream together until smooth, about 2 minutes. Scrape sides down with spatula and mix again for a bit.
Add in the vanilla extract and mix again.
Mix in powdered sugar 1 cup at a time. Slowly on a low to medium speed.
Once your frosting is mixed, you can set it aside until your cakes are cool. DO NOT frost your cakes until they are room temp. Be patient.
When your cakes are completely cool. Go ahead and frost it. Start with frosting the middle layer.
Then move on to the outside of the cake. Using an offset spatula or butter knife works well.
Start with a thin layer and build on that.
If you have a EuroStrainer for yogurt. You can turn that upside down to store your cake in the fridge.
Your cake will look amazing!