01 - Preheat oven to 325°F. Grease and flour a 12-cup bundt pan or tube pan thoroughly.
02 - In a bowl, toss the sliced peaches with brown sugar, cinnamon, and nutmeg until evenly coated. Set aside.
03 - In a large bowl, beat butter and sugar together until light and fluffy, about 3–4 minutes.
04 - Add eggs one at a time, mixing well after each addition. Mix in vanilla and almond extracts until combined.
05 - In a separate bowl, whisk together flour, baking powder, salt, cinnamon, and nutmeg until well blended.
06 - Gradually add dry ingredients to the butter mixture, alternating with sour cream. Begin and end with flour, mixing until just combined.
07 - Gently fold the diced peaches into the batter until evenly distributed.
08 - Spoon half of the batter into the prepared pan. Spread the reserved peach filling over the batter. Top with remaining batter and smooth the surface.
09 - Bake for 1 hour to 1 hour 10 minutes, or until a toothpick inserted in the center comes out clean.
10 - Let cool in the pan for 20 minutes, then invert onto a wire rack to cool completely.
11 - Whisk powdered sugar, milk, and vanilla in a small bowl until smooth. Drizzle over the cooled cake before serving.