Grease and lightly flour a tube pan or Bundt pan; set aside. Do not preheat oven.
In a medium bowl, toss together the blueberries with ¼ cup of the flour. Set aside.
In a large bowl, use the paddle attachment on an electric stand mixer to cream together the butter and sugar on medium-high speed until light and fluffy, about 3-4 minutes. Add the cream cheese; beat until smooth, about 30 seconds. With the mixer on low speed, add the eggs, one at a time, mixing well after each addition. Scrape the sides and bottom of the bowl periodically.
Gradually add remaining 2 ¾ cups of the flour, mixing on low speed after each addition, and scraping the bowl as needed. Mix just until combined, about 1 minute total.
Add the salt, vanilla extract, and almond extract; beat until smooth. Gently fold in the flour-coated blueberries and any extra flour from the bowl.
Transfer the batter to the prepared pan. Tap it a couple of times on the counter to release any big air bubbles.
Place the pan on a rack in the lower third of the cold oven. Shut the oven, and turn the temperature to 300°F. Bake the cake until a wooden toothpick inserted into the center of the cake comes out clean, about 1 hour and 50 minutes – 2 hours.
Let the cake cool in the pan for 10 minutes, then invert on a serving plate or wire rack to cool completely.
Once cool, dust with powdered sugar if desired.