Place water in a large bowl. Add mix and stir together until well-blended.
Scale one-half of batter into greased or paper-lined 16x12x1-inch pan.
Scatter peaches and cream cheese evenly over batter.
Scale remaining batter over top.
For convection oven, bake at 350°F 25-30 minutes; for standard oven, bake at 400°F for 25-30 minutes or until toothpick inserted into center comes out clean. Cool completely before cutting.