Beat butter and cream cheese at medium speed on mixer until fluffy.

Combine flour, sugar, and baking powder in a separate bowl.

Gradually add the dry ingredients to the creamed mixture, stirring until well combined.

Add apricot preserves and chopped pecans to the dough, mixing well.

Drop dough by tablespoons onto a greased cookie sheet.

Bake at 350°F (175°C) for 12-15 minutes, or until lightly golden.

Cool slightly on wire racks.

Prepare the Apricot Frosting by combining powdered sugar, softened butter, and apricot preserves.

Beat frosting ingredients until smooth.

Spread frosting on the cookies while they are still slightly warm.

Let the frosting set before serving.