For the Pumpkin Batter: beat sugar and oil together. Add eggs one at a time mixing after each addition. Add pumpkin purée and water and mix until blended.
Whisk together the flour, baking soda, salt, cinnamon, clove, nutmeg, and allspice. Add to the mixer and mix only until just incorporated.
For the Cream Cheese Batter: in a large bowl, add all ingredients and whisk to combine.
Pour 2/3 of the batter into two prepared standard loaf pans. Follow by adding the cream cheese batter on top of the pumpkin batter. Make sure to divide it up into two pans. Pour the remainder of the pumpkin batter over the top.
Bake for 45-60 minutes or until a knife inserted into the middle comes out without pumpkin batter on it. NOTE: The cream cheese will more than likely stick to knife, that's okay.
Allow to cool in the pan. Once cool, pull out of pan and slice.