Preheat your oven to 325 degrees Fahrenheit.
In a food processor add the juice from the canned sliced peaches, ⅛ tsp nutmeg, ¼ tsp cinnamon, 2 tbsp brown sugar, ½ tsp vanilla, and 1 tsp lemon juice. Blend until well combined.
Add ½ can peaches into the food processor and pulse until a chunky sauce is formed. Set aside.
In a large bowl, use an electric hand mixer to combine 1 cup butter, 6 oz cream cheese, and 2 cups sugar. Beat for about 2 minutes on medium speed until light and fluffy.
Add the 4 eggs into the batter one at a time, beating after each addition.
Add the 2 cups flour, ½ tsp salt, and ½ tbsp vanilla into the batter and beat again until combined.
Wash the two peaches. Cut each peach into 8 slices.
Spray the bottom of the bundt pan with nonstick spray. Then lay the peaches in the bottom of the pan, skin side down.
Add about ⅓ of the pureed peach topping mixture to the top of the sliced peaches. Then scoop in ⅓ of the pound cake batter. Repeat this process 2 more times, with a round of peach topping, then a round of cake batter. End with the cake batter being the top layer in the bundt pan.
Place the cake in the oven and bake for 1 hour and 30 minutes.
Allow the cake to cool slightly on a wire rack, then remove it from the bundt pan. Enjoy!