In small bowl, combine flour, baking powder and salt. In large bowl, beat butter, cream cheese, sugar and vanilla with electric mixer until light and fluffy. Stir in flour mixture 1/2 cup at a time, blending well after each addition. Dough will be soft and slightly elastic. Form dough into 2 disks, about 1 in. thick; wrap in plastic wrap. Refrigerate 2 hours or until firm enough to roll.