Preheat oven to 350F. Grease and flour a 9-10-inch Bundt cake pan and set aside. In a medium bowl, whisk together flour, baking powder, baking soda, nutmeg, cinnamon and salt. Set aside. In a large bowl of electric mixer or with a handheld mixer, beat eggs and sugars until blended. With the mixer running, drizzle in oil and mix until thick and creamy. Add dry ingredients, carrots and pecans, and mix gently by hand until combined and no streaks of flour remain. Set aside while preparing the cream cheese filling.

Cream Cheese Filling: Beat cream cheese, vanilla, sugar, and egg until smooth. Pour half of batter evenly into prepared pan. Spoon cream cheese mixture evenly across top. Pour remaining cake batter - may not cover cream cheese completely. Bake 45-60 minutes until a toothpick inserted in the cake comes out clean. Remove from oven and cool in pan 5-10 minutes before turning out onto a serving plate to cool completely.

Frosting: Whip cream cheese, butter, and vanilla until smooth and well-combined. Add heavy cream, sour cream and powdered sugar and mix until light and fluffy. When cake is completely cooled, spread frosting over top curve of Bundt cake. To cover cake entirely, double the frosting. Refrigerate until ready to serve. The cake can be made, frosted and refrigerated up to a day in advance.