Heat oven to 325 degrees. Generously grease and flour 12 cup fluted tube pan or angel cake pan. Lightly spoon flour into measuring cup. Level off. In small bowl toss jelly beans with 2 tablespoons of the flour. Set a side. In large bowl, beat sugar, butter, cream cheese and vanilla until well blended. Add eggs, one at a time, beating well after each addition. Add remaining flour, baking powder and salt. Blend well. Spoon 1 cup of batter evenly over bottom of prepared pan. Stir jelly beans into remaining batter. Spoon into baking pan. Bake in a 325 degree oven for 50-60 minutes, or until toothpick inserted in center of cake comes out clean. Cool upright in pan 10 minute s. Invert on serving plate. Cool completely. Sprinkle with confectioner s' sugar.