Preheat oven to 325 degrees F and thoroughly grease a standard bundt pan, then set aside.
Topping: Add all topping ingredients to a small saucepan. Cook over medium heat for 2-3 minutes or until butter is fully melted and sugar has dissolved. Transfer mixture to the prepared bundt pan and spread evenly along the bottom.
Cake: In a large bowl, combine all cake batter ingredients and whisk just until smooth. Gently pour batter on top of the nut mixture, then bake for 38-42 minutes or until an inserted toothpick comes out clean.
Sauce: Start on the sauce as the cake bakes. In a small saucepan, combine sugar, lemon juice, and water and cook over medium heat for 4-5 minutes. Stir in honey and continue cooking for 1 additional minute. Set sauce aside to cool and thicken.
Allow the cake to cool for about 12 minutes then invert onto your desired serving plate. Drizzle the cooled sauce over the top.