For the cake

1. Prepare the peaches. Blanch them for 30 seconds in a pot of boiling water, then transfer to a large bowl is ice water for about 1 minute, then peel away the skin. Dice into half-inch pieces and place in a colander over a large bowl, allowing any extra peach juice to drip into the bowl (this may take some time).  Reserve 1 tablespoon of juice for the glaze and discard the rest.  
2. Transfer the peaches to a sheet pan lined with a paper towel to absorb any additional moisture.
3. Preheat the oven to 325°F. Spray a 12-cup bundt cake pan with cooking spray, then dust with flour. Set the pan aside.
4. In a medium bowl, whisk together the flour, baking powder, and salt. 
5. In a separate large bowl, cream together the butter and cream cheese with an electric mixer until smooth. Add the sugar and mix at low speed until fluffy. 
6. Add the eggs, one at a time, making sure that each egg is fully incorporated before adding the next. Mix in the bourbon and vanilla extract.
7. Gradually add the dry ingredients and mix at low speed until all the flour mixture is just incorporated. Be careful not to overmix the cake batter.
8. Fold in the diced peaches so that they are evenly distributed. Spoon the batter into the prepared bundt pan.
9. Bake the cake for 75-90 minutes or until a thin knife inserted in the middle of the cake comes out clean or with just a few crumbs. Let the cake rest for 30 minutes before carefully inverting it onto a large cake stand, platter, or plate. Let it continue to cool to room temperature before glazing.

For the glaze

• Pour the peach juice and bourbon into a small bowl. Whisk in the powdered sugar until the glaze is smooth and has a thinner consistency. For a thicker glaze, add 1 tablespoon of powdered sugar at a time until the desired consistency is reached. Pour the glaze over the cooled cake. Let it sit for about 5 minutes, and serve.