How to properly freeze cake
Most cakes will freeze and keep fine if prepared properly - obviously they will not have the same "fresh baked" attributes that a freshly baked cake would bring to the party, but it should still taste nicely.


Wait for the cake(s) to be completely cooled before preparing them to be frozen.
Use one of the following methods/materials to wrap the room temperature cake before placing in the freezer:


greaseproof paper (wax paper, for example), wrapped thoroughly around the cake and taped shut
aluminum foil with plastic wrap/greaseproof paper underneath it, thoroughly secured
vacuum seal bag (caution: too much pressure may cause the cake to loose it's shape)

To thaw: Unwrap the cake, place it on a wire rack in your kitchen and let it sit for about two hours (more/less time depending on size of the cake) at normal room temperature. It is important that you do not microwave or reheat a frozen cake in any way, or you will ruin it.


More details are available here: http://www.wikihow.com/Freeze-Cakes