White Chocolate Fudge

8 ounces cream cheese, softened
4 cups sifted confectioners' sugar
1 1/2 teaspoons vanilla extract
12 ounces vanilla-flavored candy coating, melted
3/4 cup chopped pecans

Beat cream cheese at medium speed with an electric mixer until smooth; gradually add sugar and vanilla extract, beating well. Stir in candy coating and pecans. Spread into a buttered 8-inch square pan; refrigerate until firm. Cut into small squares.