1/2 (16 oz.) pkg. frozen sliced peaches, thawed (about 2 c.)
1/4 c. dried cranberries (such as craisins; be sure to use the sweetened ones, the unsweetened ones are too tart for this recipe)
1/4 c. peach nectar (can be found in the International section at the grocery)
3 tbsp. dark brown sugar
1/2 tsp. ground cinnamon

Combine all ingredients in a medium nonstick skillet; stir well. Cover and cook over medium heat 10 minutes or until peaches are tender. Serve as a fruit side dish, a sauce for fat-free pound cake, angel food cake or low-fat vanilla ice cream or an accompaniment to ham or roast pork.