In a large bowl combine the sugar, oil, eggs, and milk until well blended.
Add in the vanilla, lime, bananas and pecans.
In another bowl combine your dry ingredients.
Mix them into the wet ingredients one cup at a time. Mix for 2 minutes on medium speed.
Spread batter into a greased sheet pan, bake at 350 degrees for 25-30 minutes until toothpick comes out clean. If you bake in a 9 x 13 dish, increase the cooking time to 30-35 minutes.
Mix the cream cheese and sugar, then add the vanilla and lime. Add milk until desired consistency.
Allow to cool, then frost.