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Preheat oven to 375 degrees F. Grease and flour a 10-inch bundt pan (10- to 15-cup pan.)
In a medium bowl, sift together 2 1/2 cups flour, baking soda, and salt. Set aside.
In the bowl of an electric mixer, cream the butter and granulated sugar until light and fluffy, 3-5 minutes. Beat in the eggs one at a time, then add the sour cream and vanilla. Mix until smooth.
Scrape the bowl, then slowly add the flour mixture to the wet mixture. Scrape the bowl again.
Toss the peaches with the remaining 1/4 cup of flour. Scoop a third of the batter into the Bundt pan, then sprinkle a third of the peaches on top. Repeat two more times with the remaining batter and peaches.
Place in the oven and reduce the temperature to 325 degrees F. Bake for 60-80 minutes, or until a toothpick inserted into the center of the cake comes out clean.
Allow the cake to cool at least 20 minutes in the pan, then turn out onto a wire rack and cool completely. Once cooled whisk together the powdered sugar, heavy cream, and orange juice. Drizzle the glaze over the top of the cake.