Peel and slice peaches. Cut into 1/2 inch cubes. Set aside.

Preheat oven to 350 degrees F. Line a baking sheet with parchment paper.

Place crescent dough sheet into center of parchment paper. Using another sheet of parchment paper, gently roll, or press dough sheet into a 12x8 inch rectangle.

Stir the cream cheese to smooth, then spread it down the center of dough sheet in a 4 inch wide area.

Drop small amounts of the preserves randomly over the cream cheese. Using the end of a butter knife, swirl it onto the cream cheese.

Arrange the peaches, evenly, over the cream cheese layer. Sprinkle the sugar and the cinnamon over the peaches.

Using a sharp knife, or pastry wheel, make cuts 1 inch apart on long sides of the dough to within 1/2 inch of the filling. Alternately, cross strips to cover the filling, press ends to seal.

Bake about 20 minutes, or until crust is golden brown. Cool for 5 minutes then transfer to a serving platter.

In a small bowl, stir together the confectioner sugar and a small amount of the milk until smooth and to obtain consistency to drizzle. (May add more confectioner sugar if too thin). Drizzle glaze over the crescent braid.

Cut crosswise into 6 slices and serve warm.