Beat first 5 ingredients in a large mixing bowl at medium speed of an electric mixer about 2 minutes or until creamy; add sour cream, mixing well. Add eggs, one at a time, mixing at low speed just until blended after each addition. Stir in chocolate morsels. Pour batter into a greased and floured 10-inch tube or Bundt pan.
Bake at 350F for 1 hour or until a wooden pick inserted in center comes out clean. Cool in pan on wire rack 10 minutes; remove from pan, and cool completely on a wire rack. Sprinkle with powdered sugar before serving.