Preheat the oven to 350º F.
Chop the peaches up on a cutting board. Be careful not to include pit fragments.
In a large bowl, add the dry ingredients and whisk to blend.
In a smaller bowl, add your wet ingredients and whisk.
Pour the wet ingredients over the dry ingredients and add the peach slices.
Mix the wet and dry ingredients until just barely mixed. Overmixing will deflate your cake and it will turn out dense.
Pour the batter into a greased bread loaf tin.
Bake for 45 minutes. Test doneness with a toothpick inserted into the middle of the cake. If the toothpick comes out clean, the cake is done baking. If there is batter, or crumbs, on the toothpick, it will need to bake longer.
Allow the cake to cool.
In a small bowl, add the powdered sugar and water. Mix. Drizzle onto the cake when the cake is cooled.