Preheat oven to 350 F. Spray 13x9 glass baking dish with vegetable oil spray. Whisk flour (1 3/4 cups plus 2 tablespoons), baking powder, salt and baking soda in a medium bowl. Using electric mixer, beat butter in large bowl until smooth. Gradually beat in sugar. Beat in vanilla, then eggs one at a time, incorporating well after each addition. Using low speed, beat in flour mixture alternately with buttermilk in 3 additions each, beating well between additions.

Transfer batter to baking dish, spreading evenly. Arrange peach slices over batter, overlapping slightly as needed. Spray sheet of foil with vegetable oil spray; cover cake with foil, spray side down, and seal at the edges.

Bake for 45 minutes. Remove foil. Bake until top is golden brown, edges are crusty and tester inserted into center comes out clean, about 30 minutes longer. Cool slightly. Serve warm with whipping cream (do not whip the cream - just pour it over the cake).