Preheat oven to 350°. In a large bowl, cream butter and sugar until light and fluffy, 5-7 minutes. Add eggs, one at a time, beating well after each addition. Beat in extracts. Combine the flour, baking soda and salt; add to the batter alternately with sour cream, beating well after each addition. Fold in the peaches., Pour into a greased and floured 10-in. fluted tube pan. Bake until a toothpick inserted in the center comes out clean, 60-70 minutes. Cool for 10 minutes before removing from pan to a wire rack to cool completely. Dust with confectioners' sugar if desired.