1 (8 oz.) pkg. cream cheese, softened
2 c. cold milk
1 (3 1/2 oz.) pkg. vanilla instant pudding and pie filling mix
2 1/2 c. cubed pound cake
1/2 c. strawberry preserves
1 (16 oz.) can peach slices, drained

Combine cream cheese and 1/2 cup milk, mixing at medium speed on electric mixer until well blended. Add pudding mix and remaining milk; beat at low speed 1 minute.

In 1 1/2 quart serving bowl, layer half of cake, preserves, peaches and pudding mixture; repeat layers. Cover surface with wax paper or plastic wrap; chill. Makes 8-10 servings.