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