Preheat oven to 350 degrees F (175 degrees C).
Grease and flour a 13x18 inch jelly roll pan.
In a large bowl mix together cream cheese and sugar until light and fluffy. Add eggs one at a time beating well after each addition. Beat in butter. Combine flour baking powder and soda cinnamon and nutmeg; add to creamed mixture alternately with mixing just until blended after each addition.
Pour batter into prepared pan spread evenly.
Bake for 25 minutes cool cake before frosting.
Combine cream cheese, white sugar, vanilla extract, and egg to make spreading consistency.