Preheat oven to 350 degrees.
Grease and flour a 10 inch tube pan.
Sift and mix the flour, baking soda and salt in a small bowl.
Cream the butter and sugar in a mixing bowl until light and fluffy.
Add the eggs, one at the time, mixing well after each addition.
Stir in the vanilla and almond extracts.
Add the dry ingredients and mix well.
Fold in the sour cream and peaches.
Pour into the prepared pan.
Bake for 80 minutes or until a wooden pick inserted in the center of the cake comes out clean.
Cool in the pan for 10-15 minutes, then invert onto a wire rack for cooling.
Icing: Cream the cream cheese and butter in a mixing bowl until light and fluffy.
Add the milk and almond extract and mix well.
Add the confectioners sugar gradually, beating until smooth.
Frost cake.
Store leftover cake covered in the fridge.