Preheat oven to 375F. Lightly grease nd flour a 10-inch tube pan and set aside. Combine baking powder, baking soda and flour in a bowl and set aside. Beat sugar and butter in a medium bowl until fluffy. Beat in the eggs, one at a time. Add 1/2 teaspoon of the almond extract. Add sour cream and the flour mixture a little at a time, beating until smooth. Add half of the batter to the prepared pan, spreading evenly. Add half of the cranberry sauce on top. Add remaining butter and remaining cranberry sauce on top. Sprinkle with walnuts. Bake
for 50 to 55 minutes or until golden and starting to pull away from the sides of the pan. Cool on a wire rack for about 5 minutes, and then remove from the pan. Prepare glaze by combining the confectioner's sugar, remaining almond extract and the warm water. Add more water as needed to create a consistency suitable for drizzling. Drizzle the glaze on top of the warm cake.