In mixing bowl, cream butter, cream cheese and 1 1/4 c sugar.
Beat in eggs and vanilla.
Combine flour, baking powder, and baking soda.
Add to creamed mixture alternating with milk.
Stir in chocolate chips.
Pour into a 9 inch springform pan.
Combine pecans, cinnamon and remaining sugar.
Sprinkle over batter.
Bake at 350 degrees for 50 - 55 minutes.
Cool for 15 minutes.
Run a knife around the edge of pan to loosen.
Remove sides.
Cool completely before serving.
Drizzle with powdered sugar icing.