Preheat oven to 350 degrees F and grease loaf pan.
Cream together butter, sugar and brown sugar until fluffy. Chop peaches and stir in. Add remaining ingredients. Mix well. Pour into prepared loaf pan and bake for 60 to 70 minutes or until a wooden pick comes out clean.
Remove from oven and cool for 10 minutes. Remove loaf from pan. Cool completely on wire rack. When cooled, spread Icing over it.