Start by preheating your oven to 325°F. Prepare your bundt or tube pan by greasing it lightly and evenly with shortening, then dusting with a thin layer of all-purpose flour. Tap out any excess flour and set the pan aside.
In a stand mixer fitted with a paddle attachment (or a large bowl with an electric hand mixer), beat the softened butter and shortening on medium speed until smooth, about 1 to 2 minutes. Add the granulated sugar and beat until the mixture becomes light and fluffy.
Lower the mixer speed to medium-low and add eggs, vanilla extract, and lemon extract. Mix until just combined, scraping down the bowl with a rubber spatula as needed.
Reduce the mixer speed to low and gradually add the flour, alternating with the SunDrop soda. Mix until ingredients are just combined, being careful not to overmix.
Pour the batter into your prepared pan. Smooth the top gently and lightly tap the bottom of the pan to distribute the batter evenly.
Bake for approximately 1 hour and 15 minutes, or until a toothpick inserted into the center of the cake comes out with a few moist crumbs attached, but no wet batter.
Remove the cake from the oven and allow it to cool in the pan on a wire rack for about 10-15 minutes before turning it out of the pan completely.
While the cake is cooling, prepare the glaze by whisking together the melted butter, powdered sugar, and SunDrop soda in a small mixing bowl until smooth.
Drizzle the glaze over the cake evenly while it's still warm (but removed from the pan). Allow the glaze to set slightly, slice, and serve!
Notes
When making the frosting, make sure your butter and the Sundrop soda are both room temperature. If not, it will curdle.