As mentioned, I recommend enjoying the cake the day it's baked for the best taste and texture. However, if you wish you can freeze the cake, but you must freeze it before adding the cream cheese frosting. To freeze the unfrosted cake, wait for it to cool completely and double-wrap it in plastic wrap and freeze for up to 3 months. It may be easier to cut it into smaller sections before wrapping. When you're ready to eat the cake, allow it to thaw completely before frosting (and you need to make the frosting fresh of course!).