In the bowl of an electric mixer, cream together the butter and cream cheese until smooth.

Add the jam and mix until combined, scraping down the sides of the bowl as necessary.

Reduce speed to low and add the confectioners’ sugar. Mix briefly until just combined.

Raise speed to medium and beat until smooth and creamy.

Use a spatula to smear the frosting over the cake or transfer it to a pastry bag and pipe it over the top as desired.