Prepare peaches by washing, peeling, and slicing them into wedges. If frozen, thaw and drain first.

In a mixing bowl, beat cream cheese with sugar until smooth. Add eggs one at a time, blending well.

Cream together butter and sugar until light and fluffy; add eggs, then mix in flour, baking powder, and cinnamon.

In a greased baking dish, pour a layer of cake batter, spoon in cheesecake mixture, top with peaches, and cover with remaining cake batter.

Preheat oven to 350°F (175°C) and bake for 45-50 minutes until edges are set and toothpick comes out clean.

Cool in the pan for 20 minutes before transferring to a wire rack to cool completely.