Whisk the dry ingredients together and set aside. In the bowl of a KitchenAid Mixer fitted with the paddle attachment, cream together the softened butter and sugar until fluffy.
Then add the eggs one at a time and the vanilla extract. Slowly add the dry ingredients followed by the sour cream.
Using a rubber spatula, scrape the batter into a prepared 9 inch springform pan that's been lined with a circle of parchment paper.
Bake in a preheated 350° oven for 15 minutes.
Then remove the cake from the oven and add the drained canned peaches to the top of the cake pressing gently into the partially baked cake.
Return the cake to the oven and continue to bake an additional 25 - 30 minutes minutes or until a toothpick inserted into the center of the cake comes out clean.
Allow the cake to cool while you prepare the powdered sugar glaze.
Notes
Allow the cake to cool almost completely before adding the powdered sugar glaze.