PREHEAT oven to 325° F. Lightly grease and flour 12-cup Bundt pan.
COMBINE flour, baking powder, baking soda and salt in medium bowl.
BEAT butter, granulated sugar, almond paste and almond extract in large mixer bowl on medium speed until mixture is light and fluffy. Add eggs, one at a time, beating well after each addition. Gradually beat in flour mixture alternately with sour cream. Stir in morsels. Pour batter into prepared Bundt pan.
BAKE for 1 hour 25 minutes or until wooden pick inserted near center comes out clean. Cool in pan on wire rack for 15 minutes; invert onto wire rack to cool completely. Drizzle top with Amaretto Glaze. Garnish with morsels, if desired.
FOR AMARETTO GLAZE:
COMBINE 1 cup sifted powdered sugar and 4 teaspoons amaretto or milk in small bowl; stir. Add enough additional amaretto or milk to make glazing consistency.
*May substitute almond extract with vanilla extract.