Heat oven to 350°F. Grease and flour 10-inch tube pan with removable bottom.
In small bowl, stir together light brown sugar, baking mix, cinnamon and butter with a fork until mixture is crumbly. Set aside.
In large bowl, combine baking mix, sugar, butter, cream cheese, eggs and vanilla. With mixer on low speed, beat 1 minute, scraping down sides of bowl, until blended. On high speed, beat 3 minutes.
Spread one-third (2 cups) batter into prepared pan. Sprinkle with one- third (1/3 cup) streusel. Repeat twice with remaining batter and streusel as above.
Bake in 350°F oven until wooden skewer inserted in center of cake comes out clean, 70 to 80 minutes. Remove pan to wire rack; let cake cool in pan for 15 minutes. Remove side of pan. Let cake cool completely. Remove cake from bottom of pan and tube. Before serving, dust with confectioners sugar, if desired.