In a large bowl, combine the cake mix, pudding mix, eggs, water and oil; beat on low speed for 30 seconds. Beat on medium for 2 minutes.
Pour into a greased and floured 10-in. fluted tube pan. Bake at 350° for 35-40 minutes or until a toothpick inserted in the center comes out clean. Cool on a wire rack for 6-8 minutes.
Meanwhile, for glaze, in a small bowl, combine the confectioners' sugar, butter and orange juice until smooth.
Remove cake from pan to a serving platter; poke holes in cake with a meat fork. Slowly drizzle with glaze. Cool completely.