Step 1: Sprinkle nuts over bottom of greased 10 inch tube pan or 12 inch bundt pan; set aside.
Step 2: Stir together cake mix, pudding mix, eggs, water, oil and rum. Pour batter over nuts; bake at 325F degrees on middle rack of oven for 1 hour. Cool for 10 minutes in pan. Invert onto serving plate and prick top of cake all over.
Step 3: Glaze: Melt butter in a saucepan, stir in water and sugar, bring to boil, soft boil for 5 minutes stirring constantly; remove from heat; stir in rum. Brush/drizzle glaze evenly over top and sides of cake; allow cake to absorb glaze; repeat until all glaze is used.
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