The first single "The Way It Really Is" was a moderate hit among college radio. "We Could Still Belong Together" was also included on the soundtrack to Legally Blonde. The album's single "Someone You Should Know" was released in November 2001, it received moderate airplay on Triple A, Adult Top 40 and Pop radio formats, though never officially charted.
The music video for "Someone You Should Know" was played heavily on VH1 upon its release in early 2002. "Underdog" peaked at #39 on Billboard's Adult Top 40 chart in the fall of 2002.
Cake and Pie did not receive major backing or promotion from Loeb's record label. It was a commercial failure, having reached 199 on the Billboard 200 albums chart with Loeb being subsequently dropped from the label.
Loeb bought the rights to the masters of the songs, and the album was reissued and renamed Hello Lisa. The songs "We Could Still Belong Together", "She's Falling Apart", "Too Fast Driving" and "Look Me in the Eye" were cut from Hello Lisa and replaced with "Did That", "What Am I Supposed To Say" and "Take Me Back."