If your a chocolate freak like me.
Frosting:
8-oz. pkg. cream cheese, softened
1/2 cup softened butter
1 tsp. vanilla
8 cups powdered sugar
1/3 cup hot water
12 oz. semisweet chocolate, melted
Cake:
2 cups frosting
1/4 cup softened butter
3 eggs
2 cups flour
1-1/2 tsp. baking soda
3/4 cup milk
Preheat oven to 350 degrees F. Grease 2 9" layer cake pans and dust with cocoa powder; set aside. In a large bowl, combine cream cheese and butter and beat with mixer until light and fluffy. Add vanilla and 2 cups of powdered sugar and beat well. Add 1/3 of the hot water and beat. Repeat, adding sugar and water alternately. Then beat in melted chocolate. Measure 2 cups of this frosting for the cake batter. Cover the rest of the frosting tightly with foil and set aside.
For cake, in another large bowl, combine 2 cups frosting with 1/4 cup butter and beat well. Add eggs, one at a time, beating well after each addition. Add flour, baking soda, and milk to the batter and beat until smooth and well blended. Pour batter into prepared cake pans. Bake at 350 degrees F. for 30-40 minutes until toothpick inserted in center of cake comes out clean. Cool 5 minutes; remove cakes from pans and cool completely on wire racks.
Fill and frost cooled cake layers with reserved frosting. You may need to thin the frosting out a bit with 1-2 Tbsp. of milk for the desired spreading consistency. Store cake in refrigerator.