1/3 c. peach preserves
2 c. (16 oz. can) peach slices, well drained
1/4 c. maraschino cherries, drained
1 1/2 c. unsifted all-purpose flour
1/2 c. sugar
1 1/2 tsp. baking powder
1/2 tsp. salt
1/2 tsp. cinnamon
1/2 c. butter
1/2 c. milk
1 egg, slightly beaten
1/2 tsp. vanilla
1/2 c. semi-sweet chocolate mini chips

Cut wax paper to fit bottom of 1 1/2-quart micro-proof tube pan; place in pan. Spread peach preserves evenly over bottom of prepared pan; arrange peach slices and cherries in decorative design over preserves.

Combine flour, sugar, baking powder, salt and cinnamon in large mixing bowl. Cut in butter until mixture resembles fine crumbs. Combine milk, egg and vanilla; add to dry ingredients, stirring until blended. (Batter will be slightly lumpy.) Add mini chips. Spread batter carefully over fruit; cover pan loosely with sheet of wax paper.

Microwave on inverted saucer or microwave rack on high (full power) for 7 to 9 minutes rotating 1/4 turn every 3 minutes of cooking time, or until cake texture comes out clean. Let stand 10 minutes. Loosen cake from side of pan. Invert onto serving plate; remove wax paper. Serve warm. 8 to 10 servings.