Preheat oven to 350 degrees. Sift together flour and baking powder. Heat milk in a small saucepan until just boiling, then remove from heat and set aside.
Beat eggs until foamy, then add sugar. Continue beating on medium-high speed until thick and lemon colored. Add vanilla, reduce mixer speed to medium and add hot milk in a steady stream. Quickly beat in flour mixture.
Pour into a 10 inch tube pan. Bake in preheated oven 45 minutes, or until top springs back when lightly tapped.
