In a deep pot over medium-high heat, melt the butter.
Add the sugar and buttermilk.
Bring to a boil and boil for 1 minute.
In a deep bowl or 4-cup measuring cup, beat the hot syrup into the cream cheese until completely smooth.
Pour back into the pot.
Whisk in the vanilla and baking soda.
The syrup will foam up a lot and become very fluffy.
Serve!