Preheat the oven to 350°F (175°C) and grease a 9×5 inch loaf pan.
In a large bowl, cream together the butter, cream cheese, and sugar until light and fluffy.
Beat in the eggs one at a time, then stir in the vanilla extract.
Combine the flour, baking powder, and salt; gradually mix into the creamed mixture.
Fold in the milk until the batter is smooth, then gently fold in the diced strawberries.
Pour the batter into the prepared loaf pan and bake for 60-70 minutes, or until a toothpick inserted into the center comes out clean.
Allow the cake to cool in the pan for 10 minutes, then remove from the pan and cool completely on a wire rack.