Preheat the oven to 325°F (165°C) and generously butter and flour a large, 12-cup bundt pan.
With an electric mixer, cream together the butter and sugar for 5 minutes on medium-high speed until light and fluffy.
Add the eggs, one at a time, then scrape down the sides and add the milk, lemon zest, and juice. Mix on low until fully combined.
In a medium mixing bowl, whisk the flour, baking soda, and salt, then gradually add the flour mixture to the butter mixture until fully incorporated, and take care not to overmix.
Pour the batter into the prepared pan, tap the pan firmly on the counter to remove any air bubbles, and bake for about 1 hour and 15 minutes, or until a skewer inserted into the center comes out clean.
While the cake is baking make the lemon syrup: combine the lemon and sugar in a small saucepan and stir until the sugar dissolves.
When the cake is done, leave it in the pan and poke holes all over the hot cake with a wooden skewer.
Rewarm the syrup if necessary and brush the surface of the cake with 1/3 of the syrup.
Let the cake cool in the pan for 15 minutes before inverting it onto a wire rack.
Just after inverting the cake, poke holes all over the top and sides of the warm cake and then brush with the remaining syrup. Let cool completely.
Once cool, make the glaze: in a measuring cup with a pour spout, combine the powdered sugar and lemon juice until smooth. Slowly drizzle over the cake. Let set before serving.
Store in an airtight container at room temperature for up to 3 days or freeze for up to 2 months.